Uniswap Labs, Andreessen Horowitz (a16z) and the DeFi Education Fund have submitted comments on Illinois’ proposed digital asset transaction tax rules, asking the state to carve out DeFi protocols, front-end interfaces and self-custodial withdrawals from the scope of taxation. The groups also said wallet withdrawals and cross-chain bridge transactions should not be taxed based on asset value, and called for the removal of a requirement to keep records of private keys. Illinois tax authorities had previously released draft rules that would impose a 0.2% tax on digital asset transactions, with the public comment period running through Oct. 30. The state has already agreed to delay the effective date and enforcement of the Digital Assets Tax Act until July 1, 2027.
Uniswap Labs, Andreessen Horowitz (a16z) and the DeFi Education Fund have submitted comments on Illinois’ proposed digital asset transaction tax rules, urging the state to exclude DeFi protocols, front-end interfaces and self-custodial withdrawals from taxation.
The three groups also asked Illinois to exclude wallet withdrawals and cross-chain bridge transactions from taxes calculated on asset value, and to remove a requirement to retain records of private keys.
Illinois tax authorities had previously released draft rules that would impose a 0.2% tax on digital asset transactions. The public comment period runs through Oct. 30. The state has already agreed to delay the effective date and enforcement of the Digital Assets Tax Act until July 1, 2027.
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