US Justice Department and industry groups challenge Illinois crypto tax
REGULATIONUS Justice Departmentcoinbrief/daily · 1 source
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What happened
The US Justice Department, business groups and DeFi firms have challenged Illinois' crypto tax in court filings. The industry groups argue the levy applies even where a transaction yields no profit, could raise compliance costs, and may violate federal law. The articles do not give a ruling date or specific tax rate.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- Watch for a court ruling on the challenge to the Illinois crypto tax.
- Check whether the Illinois tax applies to your crypto transactions if you are based in the state.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Cointelegraph
Who and what is in it
Government agencies