Woofun AI reports that U.S. CFTC Chairman Michael Selig has condemned Illinois' newly enacted 0.2% cryptocurrency transaction tax, asserting that the measure "hits the brakes on technological progress." Selig argued that the legislation, signed by Governor JB Pritzker as part of the fiscal year 2027 budget, places local residents at a disadvantage in future digital asset innovation. He emphasized that blockchain will transform value transfer similarly to how the internet revolutionized information exchange, predicting widespread asset tokenization. Selig warned that Illinois' approach contradicts Washington's support for digital assets, potentially driving capital, businesses, and talent to other jurisdictions. Industry groups including the Crypto Council for Innovation and the Illinois Blockchain Association have previously opposed the tax, fearing it establishes one of the nation's most restrictive state-level crypto regimes.