Illinois Issues Draft Rules for 0.2% Digital Asset Tax

Illinois has released draft regulations for its 0.2% digital asset tax, set to take effect on January 1, 2027. The tax applies to transactions involving Illinois customers and digital asset brokers, including stablecoins like USDT and USDC. While transfers through centralized exchanges and custodians may be taxable, direct peer-to-peer wallet transfers are excluded. NFTs are currently categorized outside the scope of this tax.