Illinois Slaps 0.2% Tax on Crypto Transactions Starting 2027

The state of Illinois has approved a new tax framework that will impose a 0.2% levy on Bitcoin and cryptocurrency transactions starting in 2027.

The legislation aims to generate additional state revenue and provide clearer rules for digital assets, but critics warn it could discourage innovation and push businesses toward more crypto-friendly jurisdictions.

Supporters of the measure argue that it will integrate cryptocurrencies more fully into the state's taxation system, while opponents contend that transaction taxes could create additional costs for users and businesses operating within the crypto sector.