Blockchain Association and CCI Seek Injunction to Halt Illinois 0.2% Digital Asset Transaction Tax

Odaily News: The Blockchain Association and the Innovation Crypto Council (CCI) have filed a motion for a preliminary injunction with the Sangamon County Circuit Court in Illinois, requesting that the 0.2% digital asset franchise transaction tax, scheduled to take effect on January 1, 2027, be halted during the litigation. The tax applies to crypto entities established in Illinois or providing services to Illinois residents with annual gross revenues exceeding $100,000. The two lobbying groups had previously sued Illinois over this matter and, together with the Digital Chamber of Commerce, argue that the law violates the federal Internet Tax Freedom Act and the Due Process and Interstate Commerce clauses of the U.S. Constitution.