Illinois Governor Signs 0.2% Crypto Transaction Tax Amid Industry Opposition - KuCoin
Illinois has enacted a 0.2% tax on crypto transactions, effective immediately, despite industry opposition.
Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 9, 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: Immediate; first remittance likely due within 30-90 days depending on state guidance.. 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 imposes a 0.2% tax on the gross value of each cryptocurrency transaction, effective immediately upon signing.
Who it affects
Crypto exchanges, brokers, DeFi protocols, and high-volume traders operating in Illinois
What you must do
Implement systems to calculate, collect, and remit the 0.2% tax on all crypto transactions involving Illinois residents or businesses.
Deadline
Immediate; first remittance likely due within 30-90 days depending on state guidance.
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