What a Tax Can’t Do

Illinois past a first-in-the-nation tax on digital assets. One thing its authors didn’t plan on: it put us all in the same room.

https://substack.com/@ilbtccouncil/note/p-209787310

Digital Defenders

The future of self-custody: Will it prove to be antifragile? Can we rely on open-source developers to defend property rights, or are we asking too much?

https://ilbtccouncil.substack.com/p/digital-defenders

Illinois's Digital Asset Tax Is Now in Court. Here’s What the Lawsuit Actually Says.
A man in Austin buys a coffee and pays a friend back for a scone. Illinois may have just taxed both. That example is on page 11 of a complaint filed last week.
https://open.substack.com/pub/ilbtccouncil/p/illinoiss-digital-asset-tax-is-now

One Network, Fifty Tool Booths

Congress once stopped states from balkanizing the Internet with a patchwork of transaction taxes. Digital assets might need the same liner on, before it’s too late….

https://open.substack.com/pub/ilbtccouncil/p/one-network-fifty-toll-booths

A Tax on Your Worst Day
Illinois's new digital asset tax takes its cut even when you sell at a loss — and that's a moral line, not a technicality.
https://open.substack.com/pub/ilbtccouncil/p/a-tax-on-your-worst-day

The Real Problem With Your 1099-DA Isn’t the Paper; It’s What’s Missing From It
https://open.substack.com/pub/ilbtccouncil/p/the-real-problem-with-your-1099-da

Why Tax Digital Asset Transactions but Not Stocks? Meet the Uniformity Clause
The strongest legal argument against Illinois’s new digital asset tax isn’t loud, and it isn’t technical. It comes down to one question: compared to what? https://ilbtccouncil.substack.com/p/why-tax-digital-asset-transactions

They Tax You for Moving Money From Your Own Right Pocket to Your Left

A tax that triggers when nothing happens — no sale, no gain, just your own coins moving between your own accounts. The broker remits it; the cost quietly lands on you anyway.

https://ilbtccouncil.substack.com/p/they-tax-you-for-moving-money-from

Grateful to @NICO⚡️ & @Optimist Fields for having us on @Simply Bitcoin today to discuss the #ILDigitalAssetTax https://www.youtube.com/live/b-n7QdvHlWE?t=2971&is=xJA8YKfkt93oeH3K

Illinois just became the first state to tax digital asset transactions... and most people here have no idea it passed.

It takes effect Jan 1, 2027, but the rules aren't written yet. That's the window to shape them.

Here's what the law actually does 👇
https://illinoisbitcoincouncil.org/il-digital-asset-tax