COINTELEGRAPH · 2026-11-12 20:58 UTC

US Justice Department, business groups and DeFi firms challenge Illinois crypto tax

The US Justice Department, business groups such as the US Chamber of Commerce and SIFMA, and a DeFi coalition including Andreessen Horowitz, Paradigm, Uniswap and Aave Labs have backed legal challenges to Illinois' 0.2% digital asset tax. The tax applies to the value of digital assets exchanged, transferred or stored, regardless of profit, and was delayed from Jan. 1, 2027 to July 1, 2027; Illinois projected $60 million in fiscal 2027 revenue from it. Critics argue the tax discriminates against digital asset services, could impose costs and criminal penalties on firms, and that the DeFi…

Loading the story on Tree News…