Illinois Slaps 0.2% Crypto Tax on Transactions Starting 2027

Illinois Governor J.B. Pritzker's recent signing of a $55.9 billion budget has sparked outrage in the crypto industry, particularly over a new 0.2% digital asset tax.

The bill, Senate Bill 3019, includes taxes targeting digital asset transactions and related services, with every transaction slapped with a 0.2% tax starting January 2027.

Industry lobby group the Crypto Council for Innovation (CCI) has criticized the law, stating that it is 'punitive' and will disproportionately burden Illinois taxpayers and drive crypto builders and investors away from the state.

Crypto leaders such as Marc Andreessen, co-founder of venture firm a16z, have expressed concern over the tax proposal, with some calling it one of the most anti-crypto laws in the US.