This measure would be the first of its kind in the United States, shifting the tax burden from traditional capital gains to the act of trading itself. The state first released the draft rules on Sept. 29, indicating that the new structure is designed to capture revenue from all cryptocurrency volume, including transactions that lose money.
Wednesday, October 21, 2026
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Illinois Drafts First US Crypto Tax at 0.2% Transaction Rate
Crypto21 days ago
The state government has opened a public comment period through October 30 for draft rules that would impose a transaction fee on digital asset exchanges. The proposed levy covers spot trading, fiat-to-crypto conversions, and stablecoin settlements starting January 1, 2027. Under these guidelines, a 0.2% tax applies to all covered activities regardless of whether the user makes a profit or incurs a loss on the trade.
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