Woofun AI reports that CFTC Chair Mike Selig stated Illinois' proposed "sin tax" on blockchain technology could jeopardize Chicago's status as a financial market center. Selig criticized the bill for taxing crypto asset transfers without economic gains, labeling it "slow-down legislation" that transforms inherent property rights into "permission-based privileges." He added that taxing crypto wallets instead of pursuing growth-driving policies may mark a historical turning point or decline for Chicago's financial development.