·Confidence 80%
Legal Action Against Illinois Crypto Tax Law Could Set Precedent
Digital asset trade groups are challenging Illinois' crypto tax law, which may influence future state-level regulations on digital asset taxation.
#taxation
13 articles tagged with #taxation
·Confidence 90%
Illinois Trade Groups Challenge New Crypto Tax Ahead of Deadline
The CCI and Blockchain Association are suing to block Illinois' 0.2% crypto tax, claiming it is unconstitutional and burdensome for compliance.
·Confidence 90%
Crypto Groups Seek Court Suspension of Illinois Tax Law
The Crypto Council for Innovation and Blockchain Association request a court to suspend Illinois' new tax law as their legal challenge proceeds.
·Confidence 85%
Sweden Seeks $56 Million from Crypto Miners Over Tax Breaks
Sweden's demand for $56 million from six crypto miners for invalid tax breaks underscores regulatory risks that could impact global industry practices.
·Confidence 90%
240 Crypto Millionaires Claim Half of UK's Taxable Gains
HMRC reveals that 240 crypto millionaires accounted for over half of Britain's taxable crypto gains, with 17,600 individuals declaring £1.38 billion.
·Confidence 90%
UK Tax Office Reports $1.87 Billion in Crypto Gains
In fiscal 2025, 17,600 UK taxpayers reported $1.87 billion in crypto profits, with 240 individuals earning over $1.3 million each from their holdings.
·Confidence 90%
Chainalysis Reports $457 Billion in Crypto Taxable Activity
Chainalysis estimates that global taxable crypto activity reached $457 billion in 2025, with the CARF covering just 14% of this total.
·Confidence 90%
Chainalysis Reports $457 Billion in Taxable Crypto Activity
Chainalysis estimates that $457 billion in taxable crypto activity occurred in 2025, highlighting gaps in international tax reporting rules for onchain
·Confidence 90%
Chainalysis Reports $457B in Taxable Crypto Activity
Chainalysis reveals that only 14% of identified onchain crypto activity falls under the OECD's tax-reporting framework, highlighting significant gaps.
·Confidence 90%
Crypto Groups Sue Illinois Over New Digital Asset Tax
The Crypto Council for Innovation and Blockchain Association have filed a lawsuit against Illinois, challenging a 0.2% digital asset tax set to begin in 2027.
·Confidence 80%
Crypto Groups Challenge Illinois Digital Asset Tax Legislation
Several crypto organizations have filed a lawsuit to block the Illinois Digital Asset Tax Act, arguing it imposes unfair burdens on digital asset transactions.
·Confidence 90%
Digital Asset Groups Challenge Illinois Crypto Tax in Court
Two advocacy groups have filed a lawsuit against Illinois' 0.2% crypto tax, citing constitutional and due process violations, following a similar case in July.
·Confidence 90%
Crypto Groups Sue Illinois Over New Digital Asset Tax
The Crypto Council for Innovation and the Blockchain Association have filed a lawsuit against Illinois over its newly enacted 0.2% tax on digital assets.