Illinois Department of Revenue Releases Draft Rules for Digital Asset Transaction Tax
What happened
On September 28, 2026, the Illinois Department of Revenue released draft rules for a 0.2% tax on digital asset transactions.
The Context
- Tax Scope: The tax applies to transactions involving digital asset brokers and Illinois customers, covering stablecoins and certain transfers.
- Exemptions: DeFi transactions are generally exempt unless protocol fees are involved; NFTs are excluded from taxation.
- Public Input: The draft is open for public comments until October 30, 2026, before formal implementation.
The Number
— This is the tax rate imposed on the value of digital assets involved in taxable business activity, which means brokers will need to adjust their systems to comply.
Takeaway
As the tax takes effect in 2027, expect industry responses and potential adjustments to the regulatory landscape.
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