Blockchain Groups Sue Illinois Over Digital Asset Tax

Cryptocurrency trade groups have brought another challenge to Illinois's first-in-the-nation Digital Asset Tax Act. The Blockchain Association and the Crypto Council for Innovation filed a suit in Illinois state court, alleging that the statute is 'flawed and unlawful.'

The tax was added to a revenue bill passed during the final hours of the Illinois General Assembly's spring legislative session.

According to the complaint, the 0.2% levy on cryptocurrency users is unconstitutional because it violates the state's constitution.