SIFMA and U.S. Chamber Seek to Back Illinois Crypto Tax Challenge

The request was filed in Sangamon County cases 2026-MR-000271 and 2026-MR-000312.

In their motion, the groups said the law could affect banks, broker-dealers, custodians, advisers and asset managers.

Illinois Public Act 104-0468 sets a 0.2% tax on the value of digital assets involved in covered activity received by Illinois customers. The law includes exchanging, transferring or storing a digital asset through a broker among the activities it covers. It is scheduled to take effect Jan. 1, 2027.

In a joint motion, the state agreed to a proposed injunction that would pause the law’s effectiveness and enforcement through July 1, 2027. The plaintiffs requested a ruling by March 1, 2027, under a proposed schedule subject to court approval.