Illinois Lawmakers Weigh 0.2% Levy on Crypto Transactions

Illinois lawmakers have approved the state's fiscal 2027 budget bill, which includes a proposal to impose a 0.2% tax on cryptocurrency transactions, according to Cointelegraph. Under the measure, digital asset brokers would be responsible for collecting the tax and would be required to register if operating in the state. Brokers that fail to comply could be charged with a Class 3 felony, punishable by two to five years in prison and fines of up to $25,000. The provisions are slated to take effect on January 1. The bill still requires the signature of Governor JB Pritzker to become law. Pritzker has previously said he intends to sign it quickly, though as of Friday morning it had not yet been signed.