According to PYMNTS, a new cryptocurrency tax in Illinois, USA, will take effect on January 1, 2027. Law firm Jones Day stated that digital asset brokers with business contacts in Illinois should register in advance and check their record-keeping processes. The law imposes a 0.2% tax on the value of digital assets exchanged, transferred, or stored for in-state clients, with the tax burden borne by the client and collected by brokers that have a physical presence in Illinois or generate gross revenue of $100k or more in Illinois. Jones Day noted that brokers must complete registration before engaging in any digital asset transactions with Illinois clients, not after reaching the $100k threshold.