Illinois Unveils Draft Rules for 0.2% Crypto Tax Starting January 2027

Illinois has released draft rules explaining how its upcoming 0.2% digital asset tax will apply to various crypto transactions, including wallet transfers, stablecoins, and DeFi activity.

The tax is scheduled to begin on January 1, 2027, as part of the Digital Asset Tax Act, which was approved by Governor JB Pritzker on June 16. The law imposes a 0.2% levy on the value of digital assets involved when an Illinois customer receives covered exchange, transfer or storage services from a digital asset broker.

The proposed rules classify stablecoins as digital assets even when they are designed to maintain a fixed value against fiat currencies, commodities, or other financial instruments.