Illinois crypto transaction tax faces injunction push from U.S. industry groups

Major U.S. digital asset industry groups have asked a court for a preliminary injunction to block Illinois from enforcing a 0.2% cryptocurrency transaction tax scheduled to take effect next year, CoinGape reported. Crypto lobbying groups the Crypto Council for Innovation and the Blockchain Association filed a joint motion seeking a temporary halt to enforcement, arguing the law could cause irreparable harm to the industry. The Digital Chamber had earlier also sued Illinois to stop the same law from taking effect.