Illinois becomes first state to impose digital asset trading tax, drawing sharp criticism from industry and legal experts

Illinois’ digital asset tax may drive crypto businesses to relocate, stifle innovation, and face legal challenges, impacting the state’s economy. Illinois becomes first state to impose digital asset trading tax, drawing sharp criticism from industry and legal experts.

Congress Examines 8 Crypto Tax Proposals as $2T Market Faces Compliance Burden

House tax lawmakers reviewed eight digital asset tax proposals seeking clearer rules for crypto payments, mining, staking, donations, and compliance. The measures aim to reduce paperwork for digital asset users while establishing clearer tax treatment for key activities across the sector.

India Cracks Down On $104M Undisclosed Crypto Income Amid Tax Season

In the 2026 filing season, India’s tax authorities will be more vigilant against crypto investors. This comes after they found a virtual digital asset (VDA) income of over $104 million that was not reported.

India issues over 44,000 crypto VDA tax notices, finds $104M in hidden income

India issued 44,000 VDA tax notices and found $104M in hidden crypto income as stricter reporting rules tighten investor filings.

Italy raises crypto capital gains tax to 33% effective January 1, 2026

Italy’s crypto tax hike may deter investment, complicate EU market cohesion, and increase financial burdens on small-scale investors. Italy raises crypto capital gains tax to 33% effective January 1, 2026.