Illinois Delays Controversial Crypto Tax Amid Industry Lawsuit
60-second summary
Illinois officials and cryptocurrency groups petition a state court to postpone the 0.2% Digital Asset Tax, originally set for Jan. 1, 2024, until July 1, 2027, while a lawsuit challenging the tax proceeds.
Illinois officials and crypto groups jointly asked a state court to delay the 0.2% Digital Asset Tax from Jan. 1 to July 1, 2027, while a legal challenge continues.