Illinois 0.2% Crypto Tax Faces Legal Challenge from Trade Groups
Two prominent U.S. crypto trade groups have initiated a lawsuit against Illinois officials to block a 0.2% tax on digital assets, scheduled to take effect on January 1, 2027. The Blockchain Association and Crypto Council for Innovation argue that the tax will adversely affect the industry. This legal action highlights the ongoing tensions between state regulations and the cryptocurrency sector.
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llinois 0.2% crypto tax faces new industry lawsuit
Two U.S. crypto trade groups have sued three Illinois officials to stop a 0.2% digital asset tax from taking effect on Jan. 1, 2027. Illinois crypto tax faces six legal claims The 39-page complaint, filed by the Blockchain Association and…
Illinois’ 0.2% Crypto Tax Sparks a Full-Blown Courtroom War
Two heavyweight crypto trade groups have dragged Illinois into court over a first-in-the-nation 0.2% tax that could hammer digital asset trades, transfers, and storage when it kicks in Jan. 1, 2027. The Blockchain Association and Crypto Council for Innovation filed the complaint on Aug. 21 in Sangamon County Circuit Court against Illinois Department of Revenue […]