Crypto industry aghast at Illinois' new tax on holding or transferring digital assets in state budget (opens original article in a new tab)

Illinois approved a 0.2% tax on digital asset business activity as part of its $56 billion budget, drawing criticism from the crypto industry which argues it is anti-crypto and may seek legal action.

• Illinois Governor J.B. Pritzker approved a $56 billion budget including a 0.2% tax on digital asset business activity
• The tax applies to businesses exchanging, storing, or transferring digital assets for Illinois residents and is set to take effect in 2027
• The crypto industry criticizes the tax as anti-crypto and may pursue legal challenges or lobbying efforts