Current outcome
The Illinois Department of Revenue released draft rules for the legislated 0.2% digital asset transaction tax: stablecoins are taxable, NFTs exempt, DeFi transactions generally exempt but protocol-fee transactions remain taxable, and broker-run cross-chain bridges and fee-charging exchange-facilitated self-custody withdrawals are also covered; public comments run until Oct 30, and the tax is proposed to take effect on Jan 1, 2027.
Progress timeline
2 material updates- #01
【美国伊利诺伊州发布 0.2% 数字资产交易税草案细则，稳定币纳入征税】
Illinois released draft rules for its newly legislated 0.2% digital asset transaction tax, confirming stablecoins are taxable, NFTs exempt, DeFi generally exempt, and that protocol fees, brokered cross-chain bridges and fee-charging exchange transfers to self-custody may be taxed, with public comments open until Oct 30.
Source evidence: foresightnews
- #02
美国伊利诺伊州拟出台数字资产税实施细则，稳定币纳入征税范围
The draft rules specify the digital asset transaction tax is proposed to take effect on January 1, 2027.
State after update: The Illinois Department of Revenue released draft rules for the legislated 0.2% digital asset transaction tax: stablecoins are taxable, NFTs exempt, DeFi transactions generally exempt but protocol-fee transactions remain taxable, and broker-run cross-chain bridges and fee-charging exchange-facilitated self-custody withdrawals are also covered; public comments run until Oct 30, and the tax is proposed to take effect on Jan 1, 2027.
Source evidence: theblockbeats