Andreessen Horowitz, Paradigm, Uniswap and the DeFi Education Fund filed a friend-of-the-court brief supporting the groups challenging Illinois’ Digital Asset Tax Act, with 18 signatories in total. The law imposes a 0.2% levy on the value of every digital asset transaction regardless of gains or losses, amounting to $20 on a $10,000 trade and $2,000 per million dollars exchanged. The supported companies and funds argue that the law fails to distinguish adequately between commercial digital asset services and software or network infrastructure offered to users. A court injunction delayed enforcement until July 1, 2027, while the courts assess whether the blockchain transaction tax complies with federal law.
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