A significant cryptocurrency commerce group is asking an Illinois court docket to dam the nation’s first state tax on digital asset transactions, describing it as discriminatory, unconstitutional, and prohibited beneath federal legislation.
The Digital Chamber filed a lawsuit Tuesday in opposition to the Illinois Division of Income over the state’s digital asset tax, which was added to an omnibus income invoice within the ultimate moments of the Common Meeting’s spring legislative session and approved by Gov. J.B. Pritzker (D) June 16.
The brand new tax imposes a 0.2% levy on cryptocurrency customers for the “privilege of receiving any digital asset enterprise exercise” within the …
