tdc

A 0.2% tax rate on every crypto transaction in Illinois is being challenged by TDC in federal court, and the case could set a legal precedent for the entire United States.

TDC argues that the tax violates the Commerce Clause and the Internet Tax Freedom Act: it discriminates between blockchain and traditional financial infrastructure, without distinguishing between gains/losses or realized/unrealized. By imposing a revenue cap of 100k USD—meaning mid-sized and small organizations are hit the hardest.

This isn’t just about Illinois. If TDC wins, the technology-based tax model will be blocked. If it loses, other states may follow suit. For traders, the risk here is that compliance costs will increase and legal uncertainty will drag on.

I don’t know how the court will rule, but this case is worth watching because it touches the core question: should crypto be taxed differently from traditional assets? Either way, manage your risk and don’t trade based on expectations of winning the lawsuit.

#Pháplý #Chínhtrị #Crypto #TDC #Illinois

TDC sues Illinois to block a 0.2% tax on crypto transactions

- TDC (Crypto Lobby Group) has filed a lawsuit against the government of Illinois to block a 0.2% tax on all digital asset transactions.
- The new tax was passed by Illinois last month and will take effect next year.
- Implementing this tax could affect trading volume and the value of digital coins.
- TDC argues that the tax will reduce liquidity and make it harder for investors and traders.
- The story is drawing attention from the crypto community and policymakers.

#BinanceSquare #CryptoNews #TDC #Illinois #CryptoTax

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Source: CoinDesk