Crypto lobby TDC sues Illinois to block 0% digital asset tax
Crypto Briefing 2026-07-22 08:32:27
Context: The Digital Chamber, a crypto lobby group, has filed a lawsuit against the state of Illinois in an effort to block a newly introduced 0.2% digital asset tax. The tax, if implemented, would apply to digital assets such as cryptocurrencies. This move comes as the crypto industry continues to navigate regulatory challenges across the United States.
Key Facts
- The Digital Chamber, a prominent lobby group for the cryptocurrency industry, has initiated legal action against the state of Illinois to prevent the implementation of a 0.2% tax on digital assets.
- The proposed tax would require individuals and businesses to pay a 0.2% tax on their digital asset holdings, a move that the crypto lobby group argues is unfavorable to the industry's growth.
- According to a prediction mentioned in the article, XRP, a popular cryptocurrency, is expected to reach $3 by July 2026 if the 0.2% tax is implemented.