Crypto lobby group Digital Chamber sues Illinois to block digital asset tax
CoinDesk·
60-second summary
Digital Chamber, a prominent crypto lobby group, is suing Illinois to block a new 0.2% tax on all cryptocurrency transactions, which was enacted last month and set to take effect next year. The tax applies to all digital asset transactions, sparking concerns among crypto investors and businesses. This move may set a precedent for other states to follow.
Illinois enacted a 0.2% tax on all crypto transactions last month, with the tax taking effect next year.