Regulation
Neutral
Illinois agrees to six month delay for 0.2% crypto tax
Image: Bitcoin.com NewsIllinois has agreed to delay its 0.2% crypto tax by six months while a legal challenge proceeds. The tax was set to take effect Jan. 1, and an agreed motion asks the court to set July 1 as the effective date. Crypto groups sued over the Digital Asset Tax Act. The agreement does not resolve the lawsuit, and both sides preserve their claims and defenses. The tax covers qualifying digital asset transactions for Illinois customers.
Key points
- Illinois and two crypto groups filed an agreed motion to delay the 0.2% crypto tax.
- The tax was set to take effect Jan. 1 and is proposed to be delayed until July 1.
- Crypto groups filed lawsuits challenging the Digital Asset Tax Act.
- The law imposes a 0.2% levy on certain crypto transactions.
Why it matters
The proposed delay would keep the 0.2% crypto tax from taking effect Jan. 1 while the legal challenge continues. Crypto groups have argued the law would force millions in compliance costs.
What's unclear
Whether the court will approve the proposed preliminary injunction and July 1 effective date.
How the court will decide the constitutional and preemption claims against the tax.
Sources · 5 publishers
Bitcoin.com News
Tier 2
Illinois Agrees to Delay Rollout of 0.2% State Crypto Tax
CoinGape
Tier 2
Illinois Delays Crypto Tax Plans Following Lawsuits From Crypto Groups
Crypto.news
Tier 2
Illinois agrees to delay 0.2% crypto tax until July 2027
Decrypt
Tier 1
Illinois Delays Controversial Crypto Tax Amid Industry Lawsuit
Coverage timeline
- First reported by CoinDesk
- Confirmed by Bitcoin.com News
- CryptoVideos brief published
- 2 more publishers added to sources
How this brief was made. Our system found this event in 5 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
