Illinois Proposes 0.2% Tax on Cryptocurrency Transactions

The Illinois Department of Revenue (IDOR) has released draft regulations for the Digital Asset Tax Act, which proposes a 0.2% tax on cryptocurrency transactions. The act applies to businesses providing digital asset services to customers within the state, with out-of-state firms required to register if they exceed $100,000 in activity. The proposed effective date is January 1, 2027, and the state is accepting public comments on the draft until October 30.