Illinois Becomes First U.S. State to Tax Digital Asset Transactions

Illinois has become the first U.S. state to implement a tax on digital asset transactions, effective January 1, 2027. Under the Digital Asset Tax Act, part of the state's budget law signed by Governor JB Pritzker in June 2026, a 0.2% tax is applied to the value of digital assets traded, transferred, or held, regardless of whether the transaction results in a gain or loss. The tax is collected by digital asset brokers, and analysts estimate it could generate approximately 60 million dollars in annual revenue for the state.