Illinois agrees to six-month delay of crypto tax as industry continues court battle
State officials and crypto groups agreed to a six-month delay as lawsuits challenge the tax’s legality and enforceability.
- On Thursday, Illinois officials agreed to postpone the 0.2% Digital Asset Tax for six months, moving the effective date from January 1, 2027, to July 1, 2027, following a joint filing in Sangamon County circuit court.
- Industry groups sued Illinois Attorney General Kwame Raoul and Department of Revenue official David Harris in July, claiming the tax was 'slipped into the state's budget' without public debate or feedback.
- Both parties agreed to the delay 'in the interest of justice while the matter works towards resolution on the merits,' allowing focus on 'disputed issues of law regarding the constitutionality and enforceability' of the Digital Asset Tax Act.
- Digital Chamber CEO Cody Carbone called the delay a 'major win' for the crypto industry but said the organization will continue attempting to overturn the tax in court, stating, 'The job isn't done, and we won't stop.'
- Pending legal challenges from the Crypto Council and Blockchain Association remain active, with organizations arguing the tax is preempted by the federal Internet Tax Freedom Act and is unconstitutional.
23 Articles
23 Articles
Capitol Fa - Your Illinois News Radar » Illinois agrees to six-month delay of digital asset tax, pending judge’s approvalCapitolFax.com
* CoinDesk… The surprise crypto tax sprung by Illinois earlier this year may not start on January 1 after Illinois agreed to postpone it for six months, according to the industry groups that negotiated the delay, which will still need sign-off from a judge. The Digital Chamber and Illinois Blockchain Association reached that accord with state officials, [...]
Illinois Crypto Tax Start Date Faces a New Turn in Court
TLDR Illinois and two crypto groups jointly seek a six-month delay for the 0.2% Digital Asset Tax. The proposed new start date would move from January 1 to July 1, 2027. Plaintiffs challenge the law under both the Illinois Constitution and federal law. State officials dispute the legal claims but agreed that the court should [...]
Users of crypto in Illinois will have six more months before they click on the new tax on digital assets. The postponement of the crypto tax in Illinois remains conditional upon the approval of a judge. Illinois key points and plaintiffs in the crypto sector have filed a joint motion to postpone the tax of 0.2% from the 1st [...]
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