Illinois Details DeFi, Stablecoin Rules for 0.2% Crypto Tax

Illinois Details DeFi, Stablecoin Rules for 0.2% Crypto Tax

Illinois’ draft rules spell out how its 0.2% digital asset transaction tax would apply to stablecoins, DeFi platforms, crypto bridges and self-custody transfers.

Illinois Department Of Revenue Invites Public Review And Comment On Draft Proposed Rules For Digital Asset Tax

SPRINGFIELD - The Illinois Department of Revenue (IDOR) has posted to its website draft proposed rules implementing the Digital Asset Tax Act. Interested parties are encouraged to review and comment before the formal rulemaking process begins. The Act imposes a tax on the privilege of receiving digital asset business activities by Illinois customers from digital asset brokers. It was enacted by Article 3 of Public Act 104 0468. "Given the novelt…

Illinois Quick Hits: State revenue department wants feedback on digital tax rules

(The Center Square) – The Illinois Department of Revenue is inviting feedback on proposed rules for the state’s digital assets tax that is scheduled to take effect Jan. 1.

Illinois Draft Rules Detail 0.2% Crypto Transaction Tax Ahead of 2027 Start

Illinois has published draft rules for its 0.2% digital-asset transaction tax, detailing how exchanges, transfers, bridging and custody services will be taxed when the law takes effect on January 1, 2027. The charge is calculated from the value of the digital asset involved rather than the customer’s investment gain. A covered $10,000 transaction would therefore… Continue reading Illinois Draft Rules Detail 0.2% Crypto Transaction Tax Ahead of 2…

Illinois drafts rules to tax crypto transactions

Illinois' crypto tax draft may dampen market sentiment, influencing Bitcoin's price forecasts and prompting regulatory shifts elsewhere.

Illinois to Tax Crypto Trades 0.2%—Even on Losing Trades

The post Illinois to Tax Crypto Trades 0.2%—Even on Losing Trades appeared first on Coinpedia Fintech News On September 29, the Illinois Department of Revenue officially released a draft outlining details of its Digital Asset Tax Act (DATA). Notably, Governor J.B. Pritzker signed the unparalleled bill into law on June 16 as part of the state’s fiscal 2027 budget bill (SB 3019).  Illinois mandates 0.2% crypto transaction tax Most states have defa…