Two major US crypto trade organizations sue Illinois for a 0.2% digital asset tax
2026-08-25 00:32:50
According to CoinMeta, two major crypto trade organizations in the United States—the Blockchain Association and the Innovation Crypto Committee—have filed a lawsuit against three officials in Illinois, seeking to stop a 0.2% digital asset tax that is set to take effect on January 1, 2027. The complaint alleges that the tax will be imposed on the full value of customers' digital assets, even if they have not sold the assets or made a profit. It is stated in the complaint that this tax violates the Federal Internet Tax Freedom Act, commercial clauses, and the due process protections of the U.S. Constitution. The complaint also argues that Illinois has failed to limit the tax fairly, as it only targets economic activities within the state, which may put cross-state digital asset activities at a disadvantage.
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Source:Cryptonews
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