Illinois Crypto Tax Draws Industry Fire After Pritzker Signs Budget Package - TradingView
Illinois has enacted a new crypto tax provision as part of its budget package, requiring digital asset transactions to be reported to the state, drawing industry criticism.
Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 6, 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: Effective immediately; first reporting likely due with 2025 tax filings (early 2026).. 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 now requires reporting of digital asset transactions to the state tax authority, likely aligning with federal 1099-DA requirements but with state-specific rules.
Who it affects
Crypto exchanges, brokers, DeFi protocols, and high-volume traders operating in Illinois
What you must do
Review Illinois tax reporting obligations for digital assets, update compliance systems to capture state-specific data, and prepare to file state-level reports.
Deadline
Effective immediately; first reporting likely due with 2025 tax filings (early 2026).
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