Illinois approves 0.2% crypto transaction tax - grafa.com
Illinois has approved a 0.2% tax on crypto transactions, effective January 1, 2025. This new state-level tax applies to digital asset purchases and sales, requiring businesses to collect and remit the tax.
Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 8, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated High urgency. Crypto exchanges/brokers, DeFi protocols, and high-volume traders operating in Illinois should confirm how it applies to their specific situation before acting. There is a time constraint attached: January 1, 2025. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Crypto & DeFi Tax Reporting continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.
What changed
Illinois enacted a 0.2% tax on crypto transactions, adding a new compliance obligation for businesses facilitating such transactions.
Who it affects
Crypto exchanges/brokers, DeFi protocols, and high-volume traders operating in Illinois
What you must do
Register with the Illinois Department of Revenue, implement systems to calculate and collect the 0.2% tax on crypto transactions, and begin remitting taxes by the effective date.
Deadline
January 1, 2025
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