Illinois Becomes First US State to Tax Crypto Transactions, Industry Calls It 'Most Punitive'

Illinois Governor JB Pritzker signed a 0.2% tax on every crypto transaction, the first state-level digital asset transaction tax in the US, drawing sharp criticism from industry groups.

• Illinois' SB 3019 imposes a 0.2% tax on the value of any digital asset exchange, transfer, custody, or wallet service for Illinois customers, effective January 1, 2027
• The Crypto Council for Innovation called it 'the most punitive digital asset tax in the country'
• Unlike capital gains taxes, the levy applies regardless of whether the customer made a profit on the transaction
• Out-of-state brokers must register once annual receipts from Illinois customers reach $100,000; failure to register is a Class 3 felony
• Industry groups warn the tax will drive crypto firms and talent out of Chicago, home to Bitnomial and Jump Crypto

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Last updated 18 Jun 2026