Crypto groups seek injunction against Illinois 0.2% transaction tax
Two industry trade groups, the Blockchain Association and the Crypto Council for Innovation, filed a 34-page motion for a preliminary injunction in Sangamon County to block Illinois' new 0.2% digital asset transaction tax before it takes effect Jan. 1, 2027. They say companies are already spending millions to build compliance systems while the law's scope remains unclear, and they argue the measure is preempted by federal law and raises constitutional concerns. The tax, signed by Gov. JB Pritzker as part of the fiscal 2027 budget, applies to entities based in Illinois or providing services in the state with over $100,000 in gross receipts, and the court's decision could influence other states.
Trade groups seek injunction to stop Illinois' new digital asset tax.
Context
Illinois passed a new digital asset tax as part of its 2027 budget. Industry groups sued in August and now seek a court order to pause the law before it starts on January 1, 2027. The court could stop the law or allow it to proceed…
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