0.2% on any digital-asset transaction: two industry groups have sued the state of Illinois
The Crypto Council for Innovation and the Blockchain Association filed on August 21 in the Circuit Court of Sangamon County. They ask the court to declare the Digital Asset Tax Act unlawful and to bar the state from enforcing it, first while the case runs and then for good.
The grounds: the tax conflicts with the US Constitution, the Illinois Constitution and the federal Internet Tax Freedom Act, and the act itself was pushed through both chambers within hours with no public debate. The tax is due to take effect on January 1, 2027.
The statement from both groups
#analysis
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The Crypto Council for Innovation and the Blockchain Association filed on August 21 in the Circuit Court of Sangamon County. They ask the court to declare the Digital Asset Tax Act unlawful and to bar the state from enforcing it, first while the case runs and then for good.
The grounds: the tax conflicts with the US Constitution, the Illinois Constitution and the federal Internet Tax Freedom Act, and the act itself was pushed through both chambers within hours with no public debate. The tax is due to take effect on January 1, 2027.
The statement from both groups
#analysis
🔗 My channels: Youtube • X • LinkedIn • Instagram • Threads