Illinois proposes 0.2% tax on certain crypto transactions starting January 1, 2027
AI Market Summary
Illinois' proposed Digital Asset Tax Act would levy a 0.2% tax on broker-facilitated crypto transactions starting 2027 and add tiered electricity excise taxes for high-consumption mining. Alongside similar proposals in New York and other states, it signals accelerating US state-level taxation and compliance burdens for trading venues and miners. Near term, this raises regulatory and cost overhang risk for US-centric crypto activity.
Impact level
● Medium
Affected assets
BTC/USDT+0.19%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Illinois has proposed a new tax framework for digital assets, including a 0.2% levy on qualifying cryptocurrency transactions starting January 1, 2027. Mining operations that use more than 2.25 million kilowatt-hours a year would also face an electricity excise tax of 2 cents to 5 cents per kilowatt-hour. The proposal estimates $95 million in revenue beginning in 2027 and $380 million a year through 2030. The move follows a similar digital-asset excise tax proposal introduced in New York in 2025, underscoring growing state-level efforts to build crypto tax regimes.
