The Crypto Innovation Committee and Blockchain Association sue Illinois, challenging the 0.2% digital asset tax
2026-08-22 06:14:57
According to CoinMeta, the Crypto Innovation Committee and the Blockchain Association have filed a civil lawsuit in Sangam County, Illinois, challenging the state's 0.2% tax policy on digital assets. The plaintiffs allege that this tax law violates the U.S. Constitution, the Illinois Constitution, and the Internet Tax Freedom Act. The law stipulates that entities conducting business in Illinois or serving residents must pay a 0.2% tax on digital asset transactions or storage if their annual income exceeds $100,000. The plaintiffs argue that this tax law constitutes a punitive treatment of digital assets, despite legislators expecting the measure to generate $60 million for the state budget each year.
Source:Internet
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