TFTC on Nostr: The Digital Chamber and the Illinois Blockchain Association are suing to block ...
The Digital Chamber and the Illinois Blockchain Association are suing to block Illinois' first-in-the-nation 0.2% tax on digital asset transactions.
Their core argument is Illinois is taxing technology, not economics. A tokenized Treasury security gets taxed. The same Treasury held in book-entry form does not. A stablecoin transfer gets taxed. A dollar sent by ACH does not.
As the complaint puts it: "Illinois has not taxed a new kind of property; it has taxed an old kind of property recorded in a new way."
The plaintiffs argue the law violates the Illinois Uniformity Clause and the US Constitution's Commerce and Due Process clauses by imposing different tax treatment on economically identical assets based solely on the ledger technology used to record them.
Noncompliance is a Class 3 felony. The law takes effect January 1, 2027.
Published at
2026-09-02 18:36:01 UTCEvent JSON
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"content": "The Digital Chamber and the Illinois Blockchain Association are suing to block Illinois' first-in-the-nation 0.2% tax on digital asset transactions.\n\nTheir core argument is Illinois is taxing technology, not economics. A tokenized Treasury security gets taxed. The same Treasury held in book-entry form does not. A stablecoin transfer gets taxed. A dollar sent by ACH does not.\n\nAs the complaint puts it: \"Illinois has not taxed a new kind of property; it has taxed an old kind of property recorded in a new way.\"\n\nThe plaintiffs argue the law violates the Illinois Uniformity Clause and the US Constitution's Commerce and Due Process clauses by imposing different tax treatment on economically identical assets based solely on the ledger technology used to record them.\n\nNoncompliance is a Class 3 felony. The law takes effect January 1, 2027.\nhttps://blossom.primal.net/5749d67dddf7359525df197226a400390f230c0b8a79b09b7d7f49365b9a9449.png",
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