Illinois draft crypto tax rules detail DeFi, stablecoin treatment

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Illinois proposes a 0.2% digital‑asset transaction tax and its draft rules clarify that stablecoins, DeFi protocols, cross‑chain bridges and self‑custody transfers will each incur the levy, treating them as taxable events rather than exemptions; the guidance also outlines reporting obligations for custodial and non‑custodial wallets, signaling tighter regulatory oversight that could increase compliance costs and influence investor behavior across the…