The Digital Chamber sues Illinois over 0.2% crypto transaction tax

The Digital Chamber, a U.S. crypto lobbying group, has sued Illinois over its introduction of a 0.2% tax on digital asset transactions, The Block reported. In a complaint filed in an Illinois circuit court on July 21, local time, The Digital Chamber argued Illinois was taxing digital assets differently from other assets and said it was not seeking preferential treatment, but equal treatment for economically identical assets regardless of the technology used to record ownership, transfer, or settlement. Illinois Governor JB Pritzker had earlier signed the Digital Asset Tax Act, which imposes a 0.2% tax on crypto transactions, drawing industry backlash. U.S. Commodity Futures Trading Commission Commissioner Michael Selig had also criticized the Illinois transaction tax as "sin" and said it was holding back technological progress.