Crypto Groups Seek to Strike Down Illinois’ 0.2% Tax
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Illinois’ 0.2% tax on digital asset transfers faces a legal challenge from crypto industry groups seeking to strike it down. The levy applies to asset value rather than gains, with covered brokers obligated to collect it from Illinois customers. The outcome matters because it tests whether transaction-based state taxes can coexist with crypto trading, and a ruling could shape how other states design similar levies. Watch for court scheduling and any legislative response as the case proceeds.
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Named in this story
Illinois, Crypto Groups, covered brokers