The 0.2% tax targets spot trading, fiat-to-crypto conversions and stablecoin settlements regardless of whether a trader makes a profit or loss. The measure launches January 1, 2027, and would be the first of its kind in the United States by taxing the transaction rather than capital gains. Public comment on the proposed rules remains open through October 30.
Tuesday, October 20, 2026
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Illinois Exempts NFTs and Most DeFi From First US 0.2% Crypto Tax
Crypto20 days ago
Stablecoins will be subject to a proposed digital asset levy in Illinois, while non-fungible tokens and the majority of decentralized finance operations are excluded. Draft rules released by the state specify that DeFi activities are taxable only if they involve the charging of protocol fees, whereas NFTs are entirely exempt from the measure.
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