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Digital Chamber Sues Illinois Over Crypto Tax

{"summary": "The Digital Chamber filed lawsuits to block Illinois’ Digital Asset Tax Act, the first state-level tax on digital-asset business activity set to take effect in January 2027, arguing the 0.2% levy unfairly singles out blockchain transactions and violates constitutional provisions. This legal push underscores ongoing regulatory scrutiny of crypto taxation and could influence market perceptions and future state policy across the industry.", "summary_sources": ["https://en.bloomingbit.io/feed/news/116734", "https://cryptobriefing.com/digital-chamber-sues-to-block-illinois-digital-asset-tax-before-2027-launch/", "https://www.coindesk.com/policy/2026/07/21/crypto-lobby-group-tdc-sues-illinois-to-block-digital-asset-tax", "https://cryptopanic.com/news/33076022/Crypto-lobby-group-Digital-Chamber-sues-Illinois-to-block-digital-asset-tax", "https://www.theblock.co/post/409160/the-digital-chamber-sues-illinois-over-incoming-crypto-transaction-tax"]}

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Movement Labs files for Chapter 11 bankruptcy protection

Movement Labs filed for Chapter 11 bankruptcy after a year of turmoil, including a 2025 MOVE token market-making scandal that allegedly dumped tens of millions of MOVE and sharp governance disputes. The firm has overhauled its strategy toward payments and remittances while Move Industries says the broader Movement ecosystem remains unaffected as development continues.

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