According to Huoxun Finance, the Governor of Illinois signed the Digital Asset Tax Act on Tuesday, which will levy a 0.2% tax on digital asset transactions and related services offered to customers in the state, based on the transaction value. The act will officially take effect on January 1, 2027. The tax applies to crypto service providers such as exchanges, custodians, and brokers, who will collect the tax on behalf of the state, with a collection mechanism consistent with sales tax. Industry organizations such as the Crypto Council for Innovation, Digital Chamber, and the Illinois Blockchain Association have explicitly opposed the bill, stating that it could become one of the strictest digital asset tax systems in the United States. Critics argue that the tax will increase the additional costs for Illinois residents using digital assets and may also force crypto companies, developers, and innovation resources to leave the state.

Odaily Planet Daily reports that Federal Reserve Chairman Warsh said on Wednesday that he hopes financial markets will price securities based on their own assessment of the economy, rather than trying to price them according to their expectations of how central bank officials will interpret data. He stated, "The more the market focuses on real economic changes, the more it can judge for itself which data is more important and which is relatively less important, and the more it can form its own pricing based on what it believes is most likely to happen." He added that this would avoid a situation where "financial markets are simply reflecting what we say." (Jinshi)

Odaily Planet Daily reports that Federal Reserve Chairman Warsh stated at a press conference that no one at the Fed wants to raise interest rates in the near term. In response to a question suggesting that current data would support a rate hike, Warsh said, "The judgment you expressed is not shared by any of the 19 attendees present. We will meet again in six weeks to discuss this issue again." (Jinshi)

Odaily Planet Daily reports that Illinois Governor JB Pritzker signed the Digital Asset Tax Act on Tuesday, which will impose a 0.2% tax on digital asset transactions or services offered to Illinois customers, based on the transaction value. 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, similar to a sales tax. Industry organizations such as the Crypto Council for Innovation, Digital Chamber, and the Illinois Blockchain Association strongly oppose the bill, calling it one of the harshest digital asset tax systems in the US. Critics argue that the tax will impose additional costs on Illinois residents simply for using digital assets and could drive crypto businesses, developers, and innovation activities out of the state.

According to Huoxun Finance, on Wednesday, June 17, all three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 506.51 points, or 0.97%, to 51,493.16; the S&P 500 fell 91.22 points, or 1.21%, to 7,420.13; and the Nasdaq Composite fell 354.69 points, or 1.34%, to 26,021.66.