PANews
PANews|Sep 09, 2026 15:07
[Crypto Industry Groups Sue Illinois to Block 0.2% Digital Asset Transaction Tax] According to The Block, the Blockchain Association and the Crypto Council for Innovation have filed a preliminary injunction in an Illinois court, seeking to block the state's digital asset transaction tax set to take effect in January 2027, which imposes a 0.2% tax on transactions. In a 34-page motion, the industry groups described the new tax as unprecedented and claimed it would cause irreparable harm to their members, noting that members would need to spend millions of dollars rushing to comply without adequate guidance and face the threat of criminal penalties. They also argued that the new tax law violates the Illinois Constitution by discriminating against digital assets and contravenes the Internet Tax Freedom Act, which prohibits state and local governments from taxing internet access and imposing discriminatory e-commerce taxes. The governor's office did not respond to a request for comment.
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