Illinois has agreed to delay its 0.2% Digital Asset Tax from January 1 to July 1, 2027, following a lawsuit by The Digital Chamber and Illinois Blockchain Association challenging the tax's constitutionality. The joint motion, filed in Sangamon County Circuit Court, temporarily blocks the tax while the legal challenge continues. Gov. Pritzker signed the tax in June as part of the state budget, with lawmakers estimating it could raise $60 million annually.
X users discuss Bitcoin price movements and crypto regulation on October 1, 2026. Illinois postpones crypto transaction taxes while traders debate whether Bitcoin will continue rising or enter a bearish correction, with predictions ranging from $62K to $90K. US manufacturing data shows economic expansion at 54.5% PMI.
Stablecoin card spending reached a record $1.17 billion in September 2026, with transaction values increasing while volume grew 230% since May 2025. Major platforms like Visa and RedotPay are driving adoption by linking stablecoins to existing payment networks, moving digital assets toward everyday spending. Illinois introduced draft crypto tax rules classifying stablecoins as taxable while exempting NFTs.
Illinois Department of Revenue published draft rules for a 0.2% digital asset transaction tax set to take effect January 1, 2027. The rules clarify that stablecoins are taxable while NFTs are exempt, DeFi transactions are generally exempt unless protocol fees apply, and cross-chain transfers may be taxable. The public comment period closes October 30.
Illinois released draft rules to impose a 0.2% tax on all Bitcoin transactions starting January 1, 2027, regardless of profit or loss, drawing criticism from crypto commentators as punitive. The move has sparked debate about its impact on cryptocurrency adoption in the US.