Illinois is under fire again as two major crypto industry groups sue over its new 0.2% crypto tax, arguing it’s unconstitutional and unfairly targets digital assets. With a similar lawsuit already filed by the Digital Chamber, critics warn the tax could hurt businesses—even if they lose money—by taxing transaction volume, not profit. They say the move creates market uncertainty and risks stifling growth in the national crypto economy. The legal battle could shape how other states handle crypto taxation.
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