Illinois 0.2% crypto transaction tax nears law in FY2027 budget

The Illinois General Assembly passed a $56 billion budget that includes Senate Bill 3019, a 1624-page revenue and tax package for fiscal year 2027. The measure contains a 0.2% tax on crypto transactions to be imposed by the “digital asset broker making or effectuating the sale of the digital asset business activity,” and it cleared the legislature along party lines early Monday.

An amendment labeled the Digital Asset Privilege Tax Act sets registration requirements for any entity operating as a digital asset broker in Illinois. Firms that failed to meet the guidelines from Jan. 1 could face a Class 3 felony, carrying two to five years in prison and fines up to $25,000.

The bill still requires Governor JB Pritzker’s signature before becoming law; he has publicly signaled plans to sign it but had not done so as of Friday morning.

United States, Illinois

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