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, several business groups and DeFi firms have gone to court to challenge a tax on crypto in the state of Illinois. They say the tax can apply even when someone makes no profit from a transaction. Critics argue it could make compliance more expensive and break federal law.
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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.
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Full story timeline · 1 update
Who reported · 1 outlet
Cointelegraph
Who and what is in it
Government agencies