Major U.S. cryptocurrency industry groups have asked a court for a preliminary injunction to block Illinois’ 0.2% digital-asset transaction tax, which is scheduled to take effect in January 2027.
Crypto Council for Innovation (CCI) and the Blockchain Association (BA) jointly filed the motion on Sept. 9 in the Circuit Court of Sangamon County, Illinois, seeking to suspend enforcement of the Digital Asset Tax Act before it takes effect.
The two groups argued that companies would have to spend millions of dollars to comply with the law without specific guidance and could face criminal penalties for violations. They said the law could cause irreparable harm to their members and the digital-asset industry once it takes effect.
The law imposes a 0.2% tax on digital-asset transactions and is scheduled to take effect on Jan. 1, 2027. The Digital Chamber previously filed a separate lawsuit against Illinois seeking to block enforcement of the same law.