Key facts
- Crypto groups seek expedited ruling on Illinois digital asset tax.
- Tax rate is 0.2% and set to take effect in 2027.
- Lawsuit claims tax was 'slipped into the state’s budget' without debate.
The Crypto Council for Innovation (CCI) and Blockchain Association (BA) have joined forces with the Digital Chamber and others to push for a court to rule on the merits of a lawsuit challenging Illinois's 0.2% digital asset tax. In a Tuesday filing, the organizations requested an expedited schedule for summary judgment, aiming for a decision on the tax's lawfulness as soon as possible, potentially by March. Illinois officials had previously agreed to delay the tax's implementation from January 1 to July 1, 2027, as part of the Digital Chamber's lawsuit, which argued the tax was improperly added to the state budget. The CCI and BA are also involved in separate litigation against state officials regarding the same tax.