The Digital Chamber has filed a lawsuit against the State of Illinois over the new Digital Asset Tax Act. The law, set to take effect on January 1, 2027, imposes a 0.2% tax on certain digital asset business activities.
The Digital Chamber argues that this tax is unfair because it discriminates based on the technology used to record and transfer ownership of digital assets.
Cody Carbone, CEO of The Digital Chamber, stated that 'Today we are asking the courts to protect consumers and our members and stop this unfair tax in Illinois. Taxes should be carefully considered, not only for the revenue they produce but for the fairness of those being taxed.'