Crypto industry files brief opposing Illinois tax on digital asset transactions

Major crypto firms and groups including Andreessen Horowitz, a16z, Uniswap and Paradigm have filed an amicus brief opposing Illinois' proposed crypto transaction tax, The Block reported. Illinois passed a bill imposing a 0.2% tax on digital asset transactions, and the implementation date was pushed back to July 2027 from January 2027. The industry argued the measure would impose an unfair tax on the crypto sector and fails to clearly distinguish taxable transactions from the mere provision of software and network infrastructure. Industry groups including the Blockchain Association had earlier filed a lawsuit seeking to block the law from taking effect.