DECRYPT · 2026-11-12 17:46 UTC

Illinois Crypto Tax Draws Unlikely Alliance of DOJ, Banks and DeFi

A coalition including the U.S. Justice Department, the U.S. Chamber of Commerce, SIFMA and major crypto firms filed briefs backing a lawsuit to strike down Illinois' Digital Asset Tax Act. The Illinois tax levies 0.2% on the full value of a digital asset each time a customer trades, transfers, or stores it through a broker, even without a sale or gain, and no comparable tax applies to other assets. Illinois agreed in October to pause the tax until July 1, 2027, while the court challenge proceeds.

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