Illinois's planned 0.2% digital asset tax, scheduled to take effect Jan. 1, 2027, is facing a new legal complaint from two crypto industry groups over how the levy would be calculated.
The Blockchain Association and the Crypto Council for Innovation said they filed the complaint on Aug. 21 in the Circuit Court of the Seventh Judicial Circuit in Sangamon County. The groups argue the tax is tied to the total value of customer digital assets rather than to gains or service fees charged by brokers.
Under the rules, brokers covered by the tax are expected to collect it from customers. If a covered broker fails to do so, everyday crypto users could face monthly tax bills based on the total value of their holdings rather than any profit made or fees paid.
