Illinois to Impose 0.2% Tax on Most Crypto Transactions Starting January 1, 2027

Illinois has enacted a 0.2% tax on nearly every cryptocurrency trade, transfer, or custody service conducted for an Illinois resident, with the measure set to take effect January 1, 2027. According to NS3.AI, Governor JB Pritzker signed the Digital Asset Tax Act in mid-June, establishing the new levy on a broad range of digital-asset transaction activity tied to Illinois residents. The report also references federal crypto-related legislation, stating that GENIUS is already law, while CLARITY advanced 15-9 in May and is awaiting a Senate floor vote. The article adds that these federal bills do not clearly prevent states from imposing their own digital-asset transaction taxes.