CFTC Chairman Michael Selig has criticized Illinois' new crypto transaction tax, set to impose a 0.2% levy starting January 2027. Selig accused state lawmakers of hindering technological progress, arguing they overstep federal efforts to clarify crypto regulations. He likened blockchain's potential to the internet's impact on information, warning that Illinois' approach disadvantages voters. The tax, deemed the toughest in the U.S., faces industry scrutiny over its implementation.