Illinois just slapped a new 0.2% crypto tax on transactions over $100K, sparking an immediate legal firestorm. The Digital Chamber, a crypto lobbying group, is suing, claiming the tax violates both state and federal law — including the Constitution and the Internet Tax Freedom Act. They argue it unfairly singles out digital asset recording tech, not actual profits, and demands a federal judge block enforcement. This high-stakes battle could reshape how states tax crypto nationwide.
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