Uniswap Labs, a16z, and DeFi Education Fund Call for Exclusion of DeFi Tax in Illinois

Uniswap Labs, a16z, and the DeFi Education Fund submitted comments on the draft rules for digital asset transaction taxes in Illinois, requesting the exclusion of DeFi protocols, front-end interfaces, and self-custodied withdrawals from the tax scope. They also asked to exempt wallet withdrawals and cross-chain bridge operations from asset value-based taxation, while eliminating the requirement to keep private key records. Previously, the Illinois Department of Revenue released a draft rule proposing a 0.2% tax on digital asset transactions, with the comment period ending on October 30. The state has agreed to postpone the effective date and enforcement of the Digital Asset Tax Act until July 1, 2027.

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