[U.S. CFTC Chairman Criticizes Illinois' Crypto 'Sin Tax' Legislation, Potentially Threatening Chicago's Status as a Financial Hub] According to a report by Golden Finance, Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that Illinois' legislation imposing a so-called 'sin tax' on blockchain technology could jeopardize Chicago's future position as a financial market center. The bill even taxes cryptocurrency transfers that generate no economic benefits, which he referred to as 'deceleration legislation,' criticizing it for turning residents' property rights from 'inherent rights' into 'privileges requiring permission.' Mike Selig further noted that, in the context of blockchain technology continuously reshaping financial markets, opting to tax crypto wallets instead of implementing policies to drive economic growth could be historically viewed as a turning point—or even a signal of decline—for Chicago's financial development.