The US state of Illinois has reached an agreement with industry groups to postpone the implementation of its 0.2% cryptocurrency tax, originally set for January 1, 2027, by six months. According to CoinDesk, the cryptocurrency lobbying group The Digital Chamber (TDC), along with the Illinois Blockchain Association, announced that they had reached this agreement with state authorities, and the implementation will be postponed upon court approval. Illinois' Digital Asset Tax Act imposes a 0.2% tax on cryptocurrency transactions and related activities, such as asset storage, for companies with revenues exceeding $100,000. The industry has filed a lawsuit, arguing that the law violates state and federal laws and is unconstitutional, and plans to challenge the constitutionality and enforceability of the law in court during the postponement period.
