Illinois explains which crypto moves face 0.2% tax
Illinois moved its 0.2% crypto tax timeline by agreeing to a six-month delay, with implementation set for July 1 if a judge approves the deal. Separate draft rules also spell out which activity could fall under the tax, including stablecoins, DeFi, bridges and fee-based wallet transfers, with the rules pointing to 2027.
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The delay matters first for Illinois users and crypto businesses because the tax is not set to take effect until July 1 if a judge signs off. Until then, the legal dispute stays in focus, and the industry does not face the tax on the earlier schedule.
In practice, the draft rules show that the tax is not limited to one simple type of transaction. They name stablecoins, DeFi, bridges and fee-based wallet transfers, which means those categories are part of the rulemaking picture even though the effective timing is set for 2027.
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