A coalition of crypto industry organizations led by a16z, DeFi Education Fund, Paradigm, and Uniswap filed a joint amicus brief supporting the legal challenge against Illinois' Digital Asset Tax Act. The group, which also includes Aave Labs, Aptos Labs, Chainlink Labs, Multicoin Capital, Phantom Technologies, and the Solana Policy Institute, argues the law is overly broad and unfairly targets digital asset businesses.
The Blockchain Association, Crypto Council for Innovation, and The Digital Chamber previously filed a lawsuit against the state after Governor JB Pritzker signed the legislation into law. The act imposes a 0.2% tax on digital asset transactions and was originally scheduled to take effect in January 2027 but has been delayed to July 2027.
a16z, Paradigm, Uniswap File Amicus Brief Opposing Illinois Digital Asset Tax Law
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
