Illinois Signs 0.2% Tax on Crypto Transactions Into Law, Critics Call It 'Most Punitive'

Illinois Governor Pritzker signed a 0.2% tax on crypto transactions into law, set to take effect January 2027. Critics say it is the most punitive digital asset tax in the country and will drive innovation out of the state.

• Governor JD Pritzker signed the Digital Asset Tax Act as part of Illinois' 2027 budget on Tuesday
• The 0.2% tax applies to crypto purchases and transfers conducted in the state starting January 1, 2027
• Crypto exchanges acting as brokers must collect the tax from Illinois residents
• The Crypto Council for Innovation called it the 'most punitive digital asset tax' in the country
• Illinois expects to generate roughly $60 million per year from the new tax

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