Illinois Digital Asset Tax Faces Another Industry-Backed Challenge

The Blockchain Association and the Crypto Council for Innovation have filed a lawsuit against Illinois's Digital Asset Tax Act, which was passed in May.

The tax is a 0.2% levy on cryptocurrency users for receiving digital asset business activity in the state.

The complaint alleges that the statute violates the Illinois Constitution by hastily enacting a flawed and unlawful law.

The challenge comes after another industry group, the Illinois Blockchain Alliance, also filed a lawsuit against the tax earlier this year.