Illinois Signs 0.2% Crypto Transaction Tax, Industry Calls It One of the Most Anti-Crypto Laws in the U.S.

Odaily Planet Daily News Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" on Tuesday, which imposes a 0.2% tax on the transaction value of digital asset transactions or services provided to Illinois customers. The act will take effect on January 1, 2027.

The tax primarily targets crypto service providers, including exchanges, custodians, and brokers, requiring them to collect and remit the tax on behalf of customers, with a mechanism similar to sales tax.

Industry organizations such as the Crypto Council for Innovation, Digital Chamber, and Illinois Blockchain Association have strongly opposed the bill, calling it one of the harshest digital asset tax regimes in the country.

Critics argue that the tax will impose additional costs on Illinois residents simply for using digital assets and may drive crypto companies, developers, and innovation activity out of the state.