Every Zipp story tagged #Illinois, newest first.
The proposed pause would give brokers more time to prepare, but the levy remains in force unless a judge grants the motion, and the constitutional challenge continues.
The temporary order eases a state-level legal threat to Kalshi's sports contracts but does not settle the underlying dispute.
The proposed tax would apply whether a transaction made or lost money. The delay offers relief, but leaves the proposal's future unresolved.
A judge must approve the six-month delay, which would ease near-term compliance pressure while a challenge to the tax proceeds.
A tax applying regardless of profit or loss could make routine crypto transactions costly, putting the state’s proposed rules on the radar of users and businesses.
With compliance costs already mounting and a Jan. 1, 2027 effective date looming, industry groups warn Illinois could become a blueprint for state-level crypto taxation across the US.
Unlike most state levies on trading gains, Illinois's rule taxes gross value of every covered broker-handled digital asset event.
With three industry groups now aligned against the levy, the suit escalates from a state-budget line item into a precedent fight over digital asset taxation.
The complaint argues the 2027 levy is a sales tax applied to assets Illinois already classifies as non-possessory, double-taxing what the state itself has said does not exist as property.
The 0.2% levy takes effect in January and singles out blockchain infrastructure specifically. TDC's filing argues it violates the Commerce Clause, state uniformity rules, and the federal Internet Tax…
The 32-page complaint argues digital assets are being taxed because of the technology itself, not the economic substance, and asks a state court to halt the levy before it takes effect.
A 0.2% transaction levy due to take effect in January 2027 drew the ire of the federal derivatives chief, framing the state-level move as friction the industry will route around.
The platform argues the July 1 law will irreparably harm its federal-licensed operation, escalating a multi-front fight over who regulates sports-linked event contracts.
The levy hits every wallet move — not just sales — under SB3019, setting a precedent that, if it survives, could ripple into how other states and asset classes treat personal property.
SB3019 imposes a 2% levy on every digital-asset transaction from 2027, including self-custody wallet-to-wallet moves — a structural first among US states and a template other legislatures may copy.
The per-transaction levy lands on exchanges, wallet-to-wallet moves, and custody — a structural drag on retail activity in a state that already ranks among the larger US crypto markets.
The 0.2% Digital Asset Tax Act takes effect January 2027 and targets crypto brokers in a way no other state taxes stocks or bonds — industry lawyers say it will trigger geoblocking and capital flight.
The state sidesteps the federal capital-gains framework entirely — a per-transaction levy that hits rebalances, wallet moves, and DeFi swaps the same way it hits a profitable sale.
Pritzker signed the levy into law days after the crypto industry spent $10M backing the opposing candidate in the state's Democratic primary; with the legislature out of session, the most realistic…
Taking effect in 2027, the levy applies to every Bitcoin and crypto transaction — a structural drag critics say will push digital asset activity out of state.
CryptoSlate
CoinTelegraph
WatcherGuru
CoinDesk
TheBlock
Altcoin Daily
Crypto News