Industry groups argued in court filings that Illinois’ crypto tax, which applies even when a transaction yields no profit, could raise compliance costs and violate federal law.
US Justice Department, business groups and DeFi firms challenge Illinois crypto tax
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CointelegraphBy Cointelegraph by Nate Kostar
EXECUTIVE SUMMARY
Industry groups argued in court filings that Illinois’ crypto tax, which applies even when a transaction yields no profit, could raise compliance costs and violate federal law.
Key Takeaways
- US Justice Department, business groups and DeFi firms challenge Illinois crypto tax.
- Industry groups argued in court filings that Illinois’ crypto tax, which applies even when a transaction yields no profit, could raise compliance costs and violate federal law.
- Industry groups argued in court filings that Illinois’ crypto tax, which applies even when a transaction yields no profit, could raise compliance costs and violate federal law.
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