Illinois postpones planned tax on crypto transactions

  • Illinois postponed plans to tax cryptocurrency transactions.
  • The proposed tax applied regardless of transaction profit or loss.
  • The tax plan remains postponed.

Illinois has postponed plans to tax cryptocurrency transactions regardless of whether they generated gains or losses. The delay puts on hold a proposed approach that would have imposed tax liability based on transaction activity rather than profitability.

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Illinois postpones planned tax on crypto transactions - CoinPost Terminal