Renato Mariotti slams Illinois' new digital asset trading tax - CoinDesk
Illinois introduces a new tax on digital asset trading, criticized by legal expert Renato Mariotti. The tax imposes a levy on transactions, potentially increasing compliance burdens for crypto businesses and traders in Illinois.
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, accounting firms, 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 date likely January 1, 2025; registration and system changes needed before then.. 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 new digital asset trading tax, requiring reporting and payment on each transaction.
Who it affects
Crypto exchanges/brokers, accounting firms, DeFi protocols, and high-volume traders operating in Illinois
What you must do
Assess applicability, register with Illinois Department of Revenue, implement transaction tracking and tax calculation systems, and prepare for filing.
Deadline
Effective date likely January 1, 2025; registration and system changes needed before then.
Never miss a change like this again
Aforeworn watches Crypto & DeFi Tax Reporting around the clock and alerts you the moment a rule moves — with a plain-English brief on what to do.
Start your free trial