Illinois to Levy 0.2% Tax on Crypto Trading and Custody From 2027, Brokers Told to Register - bloomingbit
Illinois will impose a 0.2% tax on crypto trading and custody starting 2027, and brokers must register with the state.
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 Medium urgency. Crypto exchanges, brokers, and custody providers operating in Illinois should confirm how it applies to their specific situation before acting. There is a time constraint attached: Registration likely required before 2027; tax compliance starts January 1, 2027.. 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 trading and custody transactions effective 2027, with a broker registration requirement.
Who it affects
Crypto exchanges, brokers, and custody providers operating in Illinois
What you must do
Register as a broker with Illinois and prepare to collect and remit the 0.2% tax on crypto trades and custody services.
Deadline
Registration likely required before 2027; tax compliance starts January 1, 2027.
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