a16z and other crypto firms file joint amicus brief opposing Illinois digital asset tax law

Nov. 12: According to The Block, a group of crypto industry organizations led by a16z, the DeFi Education Fund, Paradigm and Uniswap — including Aave Labs, Aptos Labs, Chainlink Labs, Multicoin Capital, Phantom Technologies and the Solana Policy Institute — jointly filed an amicus brief supporting the crypto industry's challenge to Illinois' Digital Asset Tax Act. They argue the law is overly broad and unfairly targets the digital asset industry.

Previously, after Illinois Governor JB Pritzker signed the Digital Asset Tax Act into law, the Blockchain Association, the Crypto Council for Innovation and The Digital Chamber filed a lawsuit against the state of Illinois. The law imposes a 0.2% tax on digital asset transactions. It was originally scheduled to take effect in January 2027, but has now been delayed to July 2027.