Illinois crypto tax is impossible to enforce as written, crypto industry tells court
The legal battle to head off the crypto transaction tax in Illinois has drawn up a hefty roster of industry opposition, and they’re saying the tax won’t work.
tax
Hong Kong passes law requiring crypto exchanges to report customer transactions to tax authorities
Crypto firms must collect customer and transaction data from 2027, with Hong Kong sharing the information with overseas tax authorities from 2028.
U.S. House’s tax committee advances crypto tax bill in wake of Clarity Act loss
Less than 24 hours after the collapse of the crypto industry’s market structure bill, the tax committee in the U.S. House of Representatives has advanced another important industry effort that would clarify crypto tax treatment and ease burdens on casual transactions. At a Wednesday hearing… Read More
Crypto advocates join in suing Illinois over digital asset tax
The Crypto Council for Innovation and the Blockchain Association added another lawsuit against the state for its recently approved 0.2% crypto tax.
Crypto lobby group TDC sues Illinois to block digital asset tax
A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. The Digital Chamber alleged that Illinois’ Digital Asset Tax Act violated both the U.S. and state constitutions and is preempted by a federal… Read More
Crypto tax bills a work-in-progress as U.S. House lawmakers pose concerns
A package of several crypto tax bills may not be ready yet for prime time, as a U.S. House Ways and Means Committee hearing revealed potentially significant questions from lawmakers that suggested the panel hasn’t achieved a bipartisan embrace of the bills that would tailor… Read More