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Crypto industry asks court to block Illinois transaction tax
Trade groups say the tax is unworkable as written, in a legal challenge to the state's crypto levy.
Key takeaways
- Crypto industry groups are challenging Illinois's crypto transaction tax in court.
- The groups argue the tax cannot be enforced as written.
- The legal fight has drawn a broad roster of industry opposition.
Industry challenges Illinois crypto tax
Crypto industry groups have told a court that Illinois's crypto transaction tax cannot be enforced as written, according to CoinDesk. The legal challenge has drawn a broad roster of industry opposition, the report said.
CoinDesk did not detail the specific arguments, the court involved, or the names of the groups in its summary of the case. The state's response and any scheduled hearings were not described.
Sources
1 reportThis article was drafted by Clause, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
What is the Illinois crypto tax case about?
Crypto industry groups are challenging Illinois's crypto transaction tax in court, arguing it cannot be enforced as written, according to CoinDesk.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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