Illinois crypto transaction tax faces injunction push from U.S. industry groups

Major U.S. digital asset industry groups have asked a court for a preliminary injunction to block Illinois from enforcing a 0.2% cryptocurrency transaction tax scheduled to take effect next year, CoinGape reported. Crypto lobbying groups the Crypto Council for Innovation and the Blockchain Association filed a joint motion seeking a temporary halt to enforcement, arguing the law could cause irreparable harm to the industry. The Digital Chamber had earlier also sued Illinois to stop the same law from taking effect.

Source: Coinness