The cryptocurrency sector is opposing a newly enacted Illinois tax that imposes a 0.2% levy on businesses that handle or store digital assets for customers within the state, warning that adjustments may be difficult in the near term.
The statute defines the tax as applying to “receiving any digital asset business activity,” which the bill describes as any instance of exchanging, transferring, or storing a digital asset on behalf of a business or its customers.
It targets Illinois‑based firms—or those serving Illinois residents—that generate at least $100,000 in gross receipts. Proponents estimate the measure could generate approximately $60 million annually.
The provision was inserted late into the state’s broader budget package, according to sources familiar with the negotiations, and was signed by Governor J.B. Pritzker on June 16. The overall budget totals about $56 billion for fiscal year 2027 and also introduces new taxes on fantasy sports, social media platforms, and other sectors, as reported by ABC 7.
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