Uniswap, venture capital firm Andreessen Horowitz (a16z), and the DeFi Education Fund are pushing for changes to crypto tax rules in Illinois, according to The Defiant. The groups are seeking an exemption for decentralized finance activity from parts of the state’s tax framework.
Their position focuses on two areas. First, they argue that wallet withdrawals and cross-chain bridging should not fall within taxes calculated on the value of assets. Second, they want Illinois to remove a record-keeping requirement tied to private keys. The effort centers on how state-level tax rules should apply to DeFi activity and related user operations.
No additional details on the filing timeline or the state’s response were provided in the source brief.
Uniswap, venture capital firm Andreessen Horowitz (a16z), and the DeFi Education Fund are seeking changes to crypto tax rules in the U.S. state of Illinois, according to The Defiant. The groups are asking for an exemption for decentralized finance activity.
They argue that wallet withdrawals and cross-chain bridging should not be included in taxes calculated on asset value. They are also calling for the removal of a requirement to keep records related to private keys.
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