Illinois is facing legal pushback over its 0.2% tax on digital asset transactions. The U.S. Department of Justice, the U.S. Chamber of Commerce, the securities industry group SIFMA, and a crypto coalition led by a16z, Paradigm and Uniswap have all filed briefs supporting a lawsuit that seeks to overturn the levy. The case puts an unusual mix of government, traditional finance and DeFi players on the same side.
It's a rare sight to see the DOJ, banking lobbies and leading DeFi backers aligned on one issue. Whether the court agrees could shape how other states think about taxing crypto transfers.
Source: https://decrypt.co/383144/illinois-crypto-tax-draws-alliance-doj-banks-defi
#Riopay #Crypto #CryptoNews #Binance
It's a rare sight to see the DOJ, banking lobbies and leading DeFi backers aligned on one issue. Whether the court agrees could shape how other states think about taxing crypto transfers.
Source: https://decrypt.co/383144/illinois-crypto-tax-draws-alliance-doj-banks-defi
#Riopay #Crypto #CryptoNews #Binance
