Trade groups seek to block Illinois crypto tax before January effective date
60-second summary
Trade groups CCI and the Blockchain Association file a lawsuit to block Illinois’ 0.2% cryptocurrency tax before its January start, claiming the levy violates the state constitution and would create costly compliance burdens for firms and users. They argue the tax could stifle innovation, prompting regulators to reconsider the policy amid broader industry scrutiny.
Following on their earlier lawsuit, CCI and the Blockchain Association seek to block Illinois’ 0.2% crypto tax, arguing it is unconstitutional and would impose costly compliance burdens.