Illinois Crypto Tax Faces Block as Trade Groups Seek Preliminary Injunction

The Crypto Council for Innovation (CCI) and Blockchain Association (BA) have filed a motion to block Illinois from enforcing a 0.2% tax on cryptocurrency transactions before its January 1, 2027 effective date.

The trade groups argue that the tax is unconstitutional and would impose costly compliance burdens on digital asset firms.

Crypto Council for Innovation CEO Ji Hun Kim stated that companies are being asked to spend millions to build systems for a tax that violates their constitutional rights without answers to basic questions about what is taxed and when, all under the threat of criminal penalties.