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Commodity Futures Trading Commission Chair Michael Selig sharply criticized Illinois after the state passed a law imposing a 0.2% tax on cryptocurrency transactions.
Selig publicly accused Illinois lawmakers of overstepping, saying they "decided they know better" on crypto tax policy.
Selig's Rebuke of State Legislators The CFTC chair's criticism was direct and pointed at the Illinois legislature's decision-making.
Selig's phrasing — that lawmakers "decided they know better" — framed the state's move as an act of defiance against broader federal or industry-level thinking on crypto regulation.
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