Three organizations, including a16z Frontier's Miles Jennings, oppose Illinois' proposed Digital Asset Tax Act rules that could classify decentralized exchanges (DEXs) as tax-collecting brokers. They argue the rules exceed legal authority and wrongly impose tax-collection duties on autonomous software. The rules might also tax asset transfers unrelated to trades, similar to taxing transfers between bank accounts. The Crypto Council for Innovation and Blockchain Association are also challenging the law through litigation, with a proposed ruling deadline of March 1, 2027.
The opposition by a16z Frontier, DeFi Education Fund, and Uniswap to Illinois' proposed Digital Asset Tax Act rules is the story's subject, with Pluang market data providing context. For readers following major cryptocurrencies, 35 of 50 priced assets rose and 14 fell today. Notable movers include XLM at Rp3.104 (+4.90%), FIL at Rp15.673 (+3.93%), and SUSHI at Rp3.572 (+3.92%). This data is as of Oct 31, 2026 07:21 WIB.
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