Illinois Governor Enacts Controversial Crypto Tax Amid Backlash

WHO:

NewsBTC - Illinois Governor JB Pritzker signed the budget package.

Cointelegraph - Miles Jennings, general counsel of a16z, commented on the tax.

WHAT:

NewsBTC - Illinois enacted a new digital asset broker transaction tax as part of a budget package.

Techmeme - The budget also includes new taxes on social media giants, digital ads, and prediction markets.

WHERE:

NewsBTC - The tax is applicable in Illinois.

WHY:

Cointelegraph - Jennings stated that there is "effectively no comparable state financial transaction tax on stocks, bonds or derivatives anywhere in the country," indicating a unique aspect of the new tax.

HOW:

Techmeme - The budget package is the eighth state spending plan of Pritzker's tenure and includes provisions for additional funding for food assistance.

(UPDATED June 17, 2026 14:15 UTC)

Illinois Governor JB Pritzker has signed a budget package that introduces a new digital asset broker transaction tax, making it a unique financial measure in the state. Alongside this, the budget also imposes new taxes on social media giants, digital ads, and prediction markets, while providing additional funding for food assistance. Miles Jennings, general counsel of a16z, noted that there is "effectively no comparable state financial transaction tax on stocks, bonds or derivatives anywhere in the country," highlighting the distinctive nature of this new tax.