Illinois Governor Signs 0.2% Crypto Transaction Tax, Effective Jan. 1, 2027

According to ChainCatcher, Illinois Governor JB Pritzker signed the Digital Asset Tax Act on Tuesday, imposing a 0.2% tax on digital asset transactions and services provided to Illinois residents. The tax will take effect on January 1, 2027.

The tax applies to crypto service providers, including exchanges, custodians, and brokers, which are required to collect and remit the tax similar to sales tax. Industry organizations including Crypto Council for Innovation, Digital Chamber, and Illinois Blockchain Association have opposed the legislation, warning it could become one of the nation's most stringent digital asset taxes and potentially drive crypto businesses and developers out of the state.