World · Regulation · United States ·
Illinois crypto transaction tax challenged in court by industry group
The Digital Chamber, a crypto industry group, sued Illinois officials to block a new state law imposing a 0.2 percent tax on all crypto transactions, arguing it unfairly singles out digital asset users. The tax was signed into law in June and is set to take effect next year.
Why it matters for the crypto market
A state-level transaction tax on crypto sets a potential precedent that other US states could follow, and the lawsuit could determine whether such targeted taxes on digital assets are legally permissible.
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