Everyday crypto users face monthly tax bills on total asset value if covered brokers fail to collect under new Illinois rules

Blockchain Association and CCI seek injunctions, but the filing itself did not suspend the 0.2% levy.

• Illinois's new 0.2% digital asset tax, set to begin January 1, 2027, is facing legal challenges from the Blockchain Association and the Crypto Council for Innovation.
• The tax is based on the total value of customer digital asset activity, not gains or fees, and requires brokers to collect it.
• The lawsuit seeks to invalidate the tax, citing federal preemption, commerce clause violations, and due process concerns, but the filing itself does not suspend the law.

Topics: Legal regulatory, Jurisdictions, Compliance, Securities law classification, Cross jurisdictional policy, Aml antimoneylaundering

Tags: #illinoisdigitalassettax #blockchainassociation #cryptocouncilforinnovation #injunction #02levy #digitalassettaxact #brokercompliance #taxation #regulatorychallenge

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