Groups file motion to speed up Illinois Digital Asset Tax Act lawsuits

The story so far: Illinois digital asset transaction tax

Illinois published draft rules for its 0.2% Digital Asset Privilege Tax Act and the crypto industry sued to block it. Officials agreed to delay the tax to July 1, 2027. Uniswap, a16z and the DeFi Education Fund now urge Illinois to exempt DeFi transactions from the rules.

1. 29 Sep 202620:34 UTC

   Illinois releases draft 0.2% crypto transaction tax, opens feedback until 30 Oct

   Illinois published a draft of the Digital Asset Privilege Tax Act, which would levy a 0.2% tax on cryptocurrency transactions, and said it will collect public feedback through 30 Oct. The crypto industry sued Illinois last month to block the tax.

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2. 30 Sep 202604:42 UTC

   Illinois issues draft rules for 0.2% digital asset transaction tax

   Illinois' tax department released draft rules for its legislated 0.2% digital asset transaction tax, treating stablecoins as taxable and excluding NFTs, per Cointelegraph. The tax is set to take effect 1 Jan 2027, with comments due 30 Oct.

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3. 1 Oct 202612:05 UTC

   Illinois crypto tax delayed six months to July 2027 under proposed deal

   Illinois officials and crypto industry representatives agreed to delay a 0.2% crypto tax by six months to 1 July 2027, pending a judge's approval. The Digital Chamber and Illinois Blockchain Association took part in the talks.

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4. 2 Oct 202602:40 UTC

   Illinois agrees to delay 0.2% digital asset tax to 1 July

   After a crypto industry group sued, Illinois officials agreed to delay the 0.2% digital asset tax from 1 January 2027 to 1 July, pending court approval. The Digital Chamber said the delay does not repeal the tax and it will keep seeking to overturn it.

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5. 14 Oct 202610:28 UTC

   Groups file motion to speed up Illinois Digital Asset Tax Act lawsuits

   The Blockchain Association and the Crypto Council for Innovation, with the State of Illinois, the Digital Chamber and the Illinois Blockchain Association, filed a joint motion with the Sangamon County Circuit Court to expedite two lawsuits over the Digital Asset Tax Act. Illinois agreed to an injunction suspending the law until 1 July 2027, with briefs due from 4 November 2026 and completed by 22 January 2027.

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6. 30 Oct 202613:53 UTC

   Uniswap, a16z and DeFi Education Fund urge Illinois to exempt DeFi from tax rules

   Uniswap, Andreessen Horowitz and the DeFi Education Fund asked Illinois to exempt DeFi transactions from its virtual-asset tax rules, arguing withdrawals to personal wallets and bridge use should not be taxed on asset value and that private-key record-keeping should be dropped.

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