Illinois Proposes Nation's First Digital Assets Tax Rule

The Illinois Department of Revenue has taken a major step towards implementing the first tax on digital assets in the US. On September 29, 2026, they published a draft rule for collecting and remitting taxes from cryptocurrency users and brokers, starting January 1. The department is seeking feedback from parties subject to the tax on matters not addressed in the draft rule.

Illinois Revenue Director David Harris said that the novelty of the tax requires input from affected individuals. Two lawsuits have already been filed against the proposed tax by cryptocurrency trade groups. These groups are likely concerned about the impact this tax will have on their businesses and customers.