Illinois, USA, agrees to postpone the crypto tax
2026-10-02 04:29:47
According to CoinMeta, the government of Illinois in the United States has reached an agreement with the Digital Chamber of Commerce and the Illinois Blockchain Association to postpone the implementation of a 0.2% crypto tax that was originally scheduled to take effect on January 1, 2027, by six months to July 1. This extension requires approval from a state circuit court judge. In June of this year, the state passed the "Digital Assets Tax Act" targeting institutions with annual revenues exceeding $100,000, imposing a 0.2% tax on crypto transactions and asset custody activities. If the court approves the extension, both parties will temporarily cease their emergency injunction requests and instead engage in substantive proceedings regarding the compliance, enforceability, and constitutional legality of this tax law. Industry groups are seeking to achieve the permanent abolition of this tax through litigation.
Bullish 0
Bearish 0
Source:Internet
This content is for market information only and does not constitute investment advice.