TREE NEWS update: The Blockchain Association and the Crypto Innovation Council filed for a preliminary injunction in Illinois court to block a 0.2% digital asset transaction tax scheduled to take effect in January 2027. In a 34-page motion, the groups argue the tax is unprecedented, causes irreparable harm, and violates the Illinois Constitution and the Internet Tax Freedom Act. The governor’s office did not respond to requests for comment.
Crypto groups sue Illinois to block 0.2% digital asset transaction tax
AI take
This lawsuit is the first direct constitutional challenge to a state-level digital asset transaction tax, framing it as a test of whether crypto transactions can be treated like ordinary sales. A preliminary injunction ruling will signal how courts view the application of legacy tax frameworks to blockchain activity, and whether the Internet Tax Freedom Act extends to digital assets. The lack of a governor's response leaves enforcement intent unclear, but the outcome could influence other states considering similar levies, making the legal reasoning—especially on irreparable harm—the key detail to watch.
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