Illinois postpones 0.2% crypto tax by six months

Illinois has agreed to postpone its 0.2% Digital Asset Tax by six months to July 1, with the Digital Chamber and Illinois Blockchain Association negotiating the delay while constitutional challenges to the levy work through the courts. The tax was originally set to take effect January 1, 2027, with draft rules covering spot trading, fiat-to-crypto conversions and stablecoin settlements.

• The Crypto Council for Innovation and the Blockchain Association are challenging the tax in court, arguing it applies regardless of profit and could hit a single transaction up to three times.
• The court must still approve the delay for the new start date to hold.