Trade groups seek to block Illinois crypto tax before January effective date
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.
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.
The Crypto Council for Innovation (CCI) and Blockchain Association (BA) are seeking to block Illinois from enforcing a 0.2% tax on cryptocurrency transactions before it takes effect in January 2027.
The trade groups said Wednesday that they have filed a motion for a preliminary injunction in the Circuit Court of Sangamon County, Illinois to protect digital asset firms from suffering irreparable harm.
The two groups last month filed a lawsuit challenging Illinois’ digital asset tax on the grounds it violated the US Constitution, the state’s constitution, federal and state due process laws and the federal Internet Tax Freedom Act.