Illinois Bitcoin Council - Nostr Hypermedia

#Bitcoin doesn't have rugpulls.

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.

What a Tax Can’t Do

Illinois passed 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.

ilbtccouncil 1 month ago

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….

One Network, Fifty Toll Booths

Congress once stopped states from balkanizing the internet with a patchwork of transaction taxes. Digital assets may need the same line drawn, befo...

ilbtccouncil 1 month ago

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.

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.

ilbtccouncil 2 months ago

The Real Problem With Your 1099-DA Isn’t the Paper; It’s What’s Missing From It

A slightly different entry this week: less courtroom, more field report. Illinois tax attorney got a rare seat in front of the IRS and Treasury; he...

ilbtccouncil 2 months ago

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

ilbtccouncil 2 months ago

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 👇

Illinois Bitcoin Council

Explore the Illinois digital asset tax policy, its implications, and how it affects crypto taxation in Illinois.

ilbtccouncil 2 months ago

Is Illinois’s New Digital Asset Tax on Solid Legal Ground?

A plain-English guide to the constitutional issues for the public and the people who govern us alike.

ilbtccouncil 2 months ago

TLDR: #Illinois 0.2% Tax -Rate: 0.2%: on broker/business activity for IL customers. NOT on owning crypto. NOT on gains. -Who collects it: exchanges, custodians, wallet/transfer providers ("brokers"). Out-of-state brokers pulled in at $100K IL receipts. -Penalty: Class 3 felony for unregistered/noncompliant brokers (+ corpofficers/agents) — 2–5 yrs, up to $25K. -Revenue: ~$60M/yr from crypto. Budget is $56B. → ~0.1% of the budget. -First in the nation. No other state taxes digital assets this way.

ilbtccouncil 2 months ago

I was honored to discuss the new Illinois Bitcoin Tax with Blockspace Media today... https://www.youtube.com/live/qSUAnjYH4Sg?t=1232s

ilbtccouncil 2 months ago

I was honored to discuss the new Illinois Bitcoin Tax with Blockstream Media today... https://www.youtube.com/live/qSUAnjYH4Sg?si=dQteJY7kTU8AEUCe&t=1232

ilbtccouncil 3 months ago

Jeff Hilsenbeck & I had the honor to go on The Bitcoin Libertarian podcast. We discussed: -ILLINOIS BITCOIN COUNCIL -CHALLENGES ON BITCOIN ADVOCACY -THE SLOW PATH TO ADOPTION Check it out!

ilbtccouncil 3 months ago

In this episode, Nik Bhatia welcomes back Daniel Batten, bitcoin researcher and longtime voice on bitcoin's role in energy, for a conversation on the collision between AI, the power grid, and bitcoin mining. Daniel explains why AI data centers are the worst kind of load for a grid, how the rush of renewables made balancing supply and demand even harder, and why bitcoin mining has quietly become the flexible load that solves both problems at once. He walks through a Swedish operator running at a negative two cents per kilowatt hour, the 30 peer-reviewed papers behind the thesis, and the seven grid operators already using it. Nik and Daniel also discuss why bitcoin may solve an energy problem before the world realizes it solves a monetary one.

ilbtccouncil 3 months ago

Goodbye Gold Reserves, Hello ARMA...

Congress Wants to Buy 1 Million Bitcoin with Gold Certificate Gains. The ARMA Bill Is the Most Technically Detailed Reserve Legislation Ever.

ilbtccouncil 3 months ago

The Clarity Act matters. The BCRA (Blockchain Regulatory Certainty Act) needs to stay in it, or the bill isn't worth passing. Call your Both of your Senators and make it plain: • I'm a constituent • The BCRA must remain in the Clarity Act • This is my #1 legislative priority • I am watching how you vote Find your Senators here: 👉

U.S. Senate: Contacting U.S. Senators

Voicemails count. Calls count. Staff tally these. Make it happen.