Illinois Proposes Delaying 0.2% Crypto Asset Tax Implementation by 6 Months

Odaily News: After cryptocurrency industry organizations filed a lawsuit, Illinois state government officials agreed to postpone the implementation date of the 0.2% digital asset tax from January 1, 2027 to July 1, leaving time to address related legal disputes. The delay arrangement still requires court approval.

The Digital Chamber previously filed a lawsuit over the tax in July, arguing that the relevant provisions were included in the state budget without sufficient discussion and public feedback. The organization stated that the delay does not mean the tax has been abolished, and it will continue to pursue the overturning of the tax through litigation.

 Additionally, the Illinois Department of Revenue had previously published a draft of the digital asset tax implementation rules and opened public comment until October 30. (Cointelegraph)