Key facts
- Illinois lawmakers passed a budget bill including a 0.2% tax on crypto transactions.
- The tax will be imposed on registered digital asset brokers.
- The provision is part of the state's fiscal year 2027 budget.
- The bill passed along party lines in the Illinois General Assembly.
Illinois is one step closer to implementing a tax on cryptocurrency transactions, as a provision within the state's fiscal year 2027 budget has passed the legislature. The proposed law, detailed in Senate Bill 3019, would impose a 0.2% tax on digital asset transactions. This tax burden would fall on the registered broker facilitating the sale. The bill, which is part of a comprehensive $56 billion state budget package, passed the Illinois General Assembly on Monday along party lines. Digital asset industry advocates have expressed opposition to this measure, citing concerns about its potential impact on crypto users in the state.