Illinois

Illinois has agreed to postpone implementation of its 0.2% digital asset tax until July 1, provided a state court approves the deal. The delay gives crypto firms and advocacy groups breathing room as they challenge the measure’s constitutionality and enforceability.

The Digital Chamber has filed a lawsuit seeking to stop Illinois from enforcing a 0.2% tax on digital asset transactions. The challenge argues the measure violates state and federal constitutional protections and conflicts with federal law governing electronic commerce.

Illinois Governor J.B. Pritzker signed a $56 billion budget that includes a new 0.2% tax on digital asset business activity. The last-minute measure is now drawing scrutiny from crypto firms facing new reporting obligations.