The levy targets spot trading, fiat-to-crypto conversions and stablecoin settlements regardless of profit or loss, marking the first time a US state has taxed transactions instead of capital gains. While draft rules exempt non-fungible tokens and most decentralized finance protocols, operations that charge protocol fees remain subject to the tax.
Wednesday, October 21, 2026
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Illinois Postpones First US 0.2% Crypto Tax by 6 Months
Crypto20 days ago
Legal disputes over the constitutionality of a new digital asset levy have led the state government to push back the start date for its transaction tax. The Digital Chamber and the Illinois Blockchain Association negotiated a six month delay for the 0.2% charge, which was originally scheduled to begin January 1, 2027, to allow time for court proceedings to resolve.
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