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Chamber is a digital vault that secures user documents, notes, and passwords for the unexpected. Chamber secures ETH, USDC and other digital assets with the devices user already own and trust.
Digital Chamber and other crypto organizations urge the U.S. Senate to advance the Clarity Act
Odaily News: Fox Business crypto reporter posted on platform X that Digital Chamber, Crypto Council, and Blockchain Association are urging U.S. Senate leadership to bring the Clarity Act to a full floor vote, despite the bill currently lacking the necessary support for advancement.
The Digital Chamber sues Illinois over upcoming crypto transaction tax
: The Digital Chamber (TDC), a crypto industry trade organization, has filed a lawsuit in an Illinois state court opposing the state's upcoming 0.2% digital asset transaction tax. The tax policy has been signed by Illinois Governor JB Pritzker and is scheduled to take effect in January 2027. TDC is asking the court to declare the law "invalid and unenforceable," arguing that it violates the U.S. Constitution, and is seeking related relief from the court. (The Block)
South Korea's largest cryptocurrency exchange Upbit officially joins the U.S. Chamber of Digital Commerce
According to South Korean media Digital Asset, South Korea's largest cryptocurrency exchange Upbit has officially joined the U.S. Digital Chamber of Commerce. Founded in 2014, the Digital Chamber of Commerce is the world's largest digital asset industry lobbying organization, dedicated to promoting a clear regulatory environment and industry policy development. The Digital Chamber of Commerce stated that Upbit is the largest digital asset exchange in South Korea, with operations covering multiple Asian markets such as Singapore, Indonesia, and Thailand, and looks forward to deepening cooperation between the two parties within the global member community.
CFTC Chair Criticizes Illinois’ 0.2% Crypto Transaction Tax, Claims It Hinders Technological Progress
U.S. CFTC Chairman Michael Selig has criticized Illinois for passing a 0.2% tax on cryptocurrency transactions, stating that the state's lawmakers have "hit the brakes on technological progress" and put local residents at a disadvantage in future digital asset innovation.Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" last month as part of the state's fiscal year 2027 budget plan. The act imposes a 0.2% tax on crypto transactions and is scheduled to take effect in January 2027.Selig stated that just as the internet changed the way information is transferred, blockchain will change the way value is transferred. He believes that in the future, almost all assets, from commodities and currencies to stocks and bonds, could be tokenized. He argued that Illinois' move diverges from Washington's direction of promoting digital asset innovation and could lead to capital, businesses, and tech talent flowing to other jurisdictions.Previously, industry organizations such as the Crypto Council for Innovation, the Digital Chamber, and the Illinois Blockchain Association also strongly opposed the tax, warning that it could become one of the most stringent and anti-crypto state-level tax systems in the United States. (The Block)
Illinois Signs 0.2% Crypto Transaction Tax, Industry Calls It One of the Most Anti-Crypto Laws in the US
Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" on Tuesday, imposing a 0.2% tax on the transaction value of digital asset transactions or services provided to customers in Illinois. The Act will take effect on January 1, 2027.The tax primarily targets crypto service providers, including exchanges, custodians, and brokers, requiring them to collect and remit the tax, with a mechanism similar to sales tax.Industry organizations such as the Crypto Council for Innovation, Digital Chamber, and Illinois Blockchain Association have strongly opposed the Act, stating that it could become one of the most stringent digital asset tax systems in the country.Critics argue that the tax will impose additional costs on Illinois residents solely for using digital assets and may drive crypto enterprises, developers, and innovation activities out of the state.
Illinois to become first US state to impose digital asset transaction tax, expected to take effect in 2027
Illinois has become the first state in the United States to impose a tax on digital asset transactions. Governor J.B. Pritzker signed SB 3019, which includes the Digital Asset Tax Law, levying a 0.2% business tax on brokers who trade, transfer, or custody digital assets for clients within the state. The tax is expected to take effect on January 1, 2027, and is projected to generate approximately $60 million in annual revenue for the state government.The tax targets business activities rather than profits, and traditional securities brokers in Illinois do not bear a similar tax burden. Former federal prosecutor Renato Mariotti criticized the tax for being embedded in the budget without sufficient public debate. The Digital Chamber of Commerce and the Illinois Blockchain Association jointly oppose the measure, calling it "unsound in substance, flawed in process, and economically destructive." (cryptobriefing)
Digital Chamber and other crypto organizations urge the U.S. Senate to advance the Clarity Act
Odaily News: Fox Business crypto reporter posted on platform X that Digital Chamber, Crypto Council, and Blockchain Association are urging U.S. Senate leadership to bring the Clarity Act to a full floor vote, despite the bill currently lacking the necessary support for advancement.
Coinbase, Ripple and Over 200 Crypto Entities Jointly Urge U.S. Senate to Advance CLARITY Act Vote
a joint letter initiated by Stand With Crypto, in collaboration with the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber, has been submitted to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging a full floor vote on the Digital Asset Market Clarity Act (the "CLARITY Act") as soon as possible.Over 200 crypto enterprises, industry associations, and community organizations, including Coinbase, Ripple, Kraken, a16z, Circle, and Binance.US, have participated in signing the letter. The joint letter points out that the CLARITY Act would establish a comprehensive federal regulatory framework for the digital asset market, clearly delineate regulatory responsibilities, provide feasible registration pathways, protect software developer innovation, and simultaneously promote the return of more digital asset businesses to the U.S. market.The signatories stated that the bill would help retain innovation, jobs, investment, and market activity within the United States, further solidifying America's leading position in the global digital asset innovation sector.It is understood that the CLARITY Act received bipartisan support and passed committee review in the Senate Banking Committee last month. Senator Cynthia Lummis subsequently stated that the next step for the bill is to enter the full Senate deliberation stage.Additionally, 160 former national security and law enforcement officials have previously signed a letter supporting the bill. U.S. Treasury Secretary Scott Bessent and White House Crypto Advisor Patrick Witt have also publicly called for advancing the legislative process. However, the issue of conflicts of interest between the Trump family and the crypto industry is still regarded as one of the main obstacles to the bill's progress. (The Block)
Related news
Digital Chamber and other crypto organizations urge the U.S. Senate to advance the Clarity Act
Odaily News: Fox Business crypto reporter posted on platform X that Digital Chamber, Crypto Council, and Blockchain Association are urging U.S. Senate leadership to bring the Clarity Act to a full floor vote, despite the bill currently lacking the necessary support for advancement.
The Digital Chamber sues Illinois over upcoming crypto transaction tax
: The Digital Chamber (TDC), a crypto industry trade organization, has filed a lawsuit in an Illinois state court opposing the state's upcoming 0.2% digital asset transaction tax. The tax policy has been signed by Illinois Governor JB Pritzker and is scheduled to take effect in January 2027. TDC is asking the court to declare the law "invalid and unenforceable," arguing that it violates the U.S. Constitution, and is seeking related relief from the court. (The Block)
The Noah Doe case regarding ownership of Satoshi Nakamoto's dormant coins will have a hearing on September 8.
Galaxy's Head of Research posted on X, stating that the court has scheduled a hearing for September 8 at 14:30 to consider requests by Bitcoin Policy to intervene as a defendant and Digital Chamber to join the Noah Doe case as amicus curiae. The case involves Noah Doe's attempt to claim legal ownership of dormant coins, including those held by Satoshi Nakamoto.
South Korea's largest cryptocurrency exchange Upbit officially joins the U.S. Chamber of Digital Commerce
According to South Korean media Digital Asset, South Korea's largest cryptocurrency exchange Upbit has officially joined the U.S. Digital Chamber of Commerce. Founded in 2014, the Digital Chamber of Commerce is the world's largest digital asset industry lobbying organization, dedicated to promoting a clear regulatory environment and industry policy development. The Digital Chamber of Commerce stated that Upbit is the largest digital asset exchange in South Korea, with operations covering multiple Asian markets such as Singapore, Indonesia, and Thailand, and looks forward to deepening cooperation between the two parties within the global member community.
CFTC Chair Criticizes Illinois’ 0.2% Crypto Transaction Tax, Claims It Hinders Technological Progress
U.S. CFTC Chairman Michael Selig has criticized Illinois for passing a 0.2% tax on cryptocurrency transactions, stating that the state's lawmakers have "hit the brakes on technological progress" and put local residents at a disadvantage in future digital asset innovation.Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" last month as part of the state's fiscal year 2027 budget plan. The act imposes a 0.2% tax on crypto transactions and is scheduled to take effect in January 2027.Selig stated that just as the internet changed the way information is transferred, blockchain will change the way value is transferred. He believes that in the future, almost all assets, from commodities and currencies to stocks and bonds, could be tokenized. He argued that Illinois' move diverges from Washington's direction of promoting digital asset innovation and could lead to capital, businesses, and tech talent flowing to other jurisdictions.Previously, industry organizations such as the Crypto Council for Innovation, the Digital Chamber, and the Illinois Blockchain Association also strongly opposed the tax, warning that it could become one of the most stringent and anti-crypto state-level tax systems in the United States. (The Block)
Illinois Signs 0.2% Crypto Transaction Tax, Industry Calls It One of the Most Anti-Crypto Laws in the US
Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" on Tuesday, imposing a 0.2% tax on the transaction value of digital asset transactions or services provided to customers in Illinois. The Act will take effect on January 1, 2027.The tax primarily targets crypto service providers, including exchanges, custodians, and brokers, requiring them to collect and remit the tax, with a mechanism similar to sales tax.Industry organizations such as the Crypto Council for Innovation, Digital Chamber, and Illinois Blockchain Association have strongly opposed the Act, stating that it could become one of the most stringent digital asset tax systems in the country.Critics argue that the tax will impose additional costs on Illinois residents solely for using digital assets and may drive crypto enterprises, developers, and innovation activities out of the state.