Illinois Releases Draft Rules for Digital Asset Tax

The Illinois Department of Revenue (IDOR) has released draft regulations for the Digital Asset Tax Act, with public comments open until October 30. Under current law, a 0.2% tax on the value of digital assets involved in business activities is set to take effect on January 1, 2027. While industry groups like the Crypto Council for Innovation (CCI) have opposed the measure, and a repeal bill (HB5798) was introduced in the state House, the tax law remains in effect.