Illinois to Become the First U.S. State to Impose a Digital Asset Transaction Tax in 2027

KuCoinFlash

Release Time: 06/17/2026 01:04:09

Summary

Illinois will implement the first digital asset regulation in the U.S., introducing a 0.2% tax on digital asset transactions starting in 2027. Governor J.B. Pritzker signed SB 3019, which includes the Digital Asset Tax Act, targeting brokers who handle digital assets for clients. The tax is projected to generate $60 million annually and applies to business activity, not profit. Critics, including former prosecutor Renato Mariotti, argue that the tax lacked adequate public discussion. The Digital Chamber of Commerce and the Illinois Blockchain Association oppose the measure, calling it economically damaging. This move could influence future capital gains tax policies on digital assets.

Odaily Planet Daily reports: Illinois has become the first state in the U.S. to impose a tax on digital asset transactions. The Digital Asset Tax Act, included in SB 3019 signed by Governor J.B. Pritzker, imposes a 0.2% occupational tax on brokers who trade, transfer, or custody digital assets for clients within the state. The law is expected to take effect on January 1, 2027, and is projected to generate approximately $60 million in annual revenue for the state.

This tax targets business activity rather than profits, and traditional securities brokers in Illinois are not subject to a similar tax. Former federal prosecutor Renato Mariotti criticized the inclusion of this tax in the budget without adequate public debate. The Digital Chamber and the Illinois Blockchain Association jointly opposed it, calling the tax “substantively unsound, procedurally flawed, and economically destructive.” (cryptobriefing)

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