Illinois has agreed to delay its 0.2% tax on cryptocurrency transactions for six months. The temporary reprieve was reached in negotiations between state officials and the crypto industry, which is currently embroiled in a court battle over the tax. The delay would push the tax's implementation to July 1, pending court approval.
Source
"Illinois Delays Crypto Tax Amid Ongoing Court Battle" — CoinDesk
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
The agreement allows both sides to focus on the ongoing court case, where the industry is challenging the tax's constitutionality. The tax, which was set to take effect on January 1, has been the subject of controversy and debate within the crypto community.
