Crypto groups push for expedited judgment on Illinois digital asset tax

Illinois digital asset tax — Major crypto industry groups are asking an Illinois court to fast-track a legal challenge to the state’s proposed digital asset tax, despite a recent six-month enforcement delay.

The Crypto Council for Innovation (CCI) and Blockchain Association filed a motion in Sangamon County Circuit Court on Tuesday seeking an expedited schedule for summary judgment. They aim to get a ruling on the law’s legality “as quickly as possible.” The groups are joining separate lawsuits filed by the Digital Chamber and the Illinois Blockchain Association.

“While pausing enforcement of the Digital Asset Tax Act protects Illinois consumers and businesses from this onerous and legally flawed tax until July 1, it remains imperative that the merits are determined as soon as possible,” said CCI CEO Ji Kim. The proposed 0.2% tax on crypto assets was originally set to take effect in January 2027 but was delayed until July 2027 following legal pressure.

The industry argues the tax was “slipped into the state’s budget” without proper debate. If the court approves the expedited schedule, a decision on the law’s merits could come by March. Digital Chamber CEO Cody Carbone has vowed to continue legal proceedings “until this tax is struck down for good.”