Illinois, USA, plans to introduce detailed rules for implementing a digital asset tax, with stablecoins included in the scope of taxation.

BlockBeats news, September 30: The Illinois Department of Revenue released draft rules clarifying the specific scope of enforcement for the 0.2% digital asset transaction tax that has already been legislated. The draft stipulates that stablecoins will be classified as taxable digital assets, while non-fungible tokens (NFTs) are exempted.

Decentralized finance (DeFi) transactions are generally tax-exempt, but transactions involving protocol fees for platform operations and maintenance are still subject to taxation; network fees and swap fees paid solely to liquidity providers are not taxed. In addition, cross-chain bridging services conducted through brokers, as well as withdrawals from self-custodial wallets where centralized exchanges charge fees, will also be included in the scope of taxation. The bill is proposed to take effect on January 1, 2027, with the public comment period open until October 30.