Crypto lobbying orgs ask court to suspend Illinois tax as legal case continues
60-second summary
Crypto lobbying groups, the Crypto Council for Innovation and the Blockchain Association, file a motion seeking a preliminary injunction to suspend Illinois’s new crypto‑tax while their lawsuit proceeds, arguing the law unfairly targets digital assets. They contend the tax could deter investment and stifle innovation, suggesting that a court pause may preserve market growth and protect industry development.
The motion for a preliminary injunction comes a few weeks after the Crypto Council for Innovation and Blockchain Association sued to block the law.