The U.S. state of Illinois has delayed the implementation of its crypto asset transaction tax by six months, with the originally planned tax rate being 0.2%.
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Following a lawsuit filed by a crypto industry group, Illinois officials have agreed to delay the implementation of its digital asset tax by six months, pushing the effective date from January 1, 2027 to July 1, 2027. The tax is levied at a rate of 0.2% on the value of digital asset-related transactions. Earlier, the Digital Chamber sued Illinois officials, alleging the tax provision was added to the state budget without sufficient debate or public comment. The two sides have reached a delay agreement to allow the court time to adjudicate the associated legal disputes, though the postponement does not mean the tax has been abolished.
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