Illinois FY2027 Budget Plan Includes a 0.2% Tax on Crypto Transactions

Illinois lawmakers advanced Senate Bill 3019 as part of the state's fiscal year 2027 budget package, proposing a 0.2% tax on cryptocurrency transactions conducted in Illinois. At that rate, a $1,000 trade would add $2 in tax, while $1 million in daily volume could translate to $2,000 per day and about $730,000 per year. The proposal would tax each transaction rather than capital gains, raising open questions about coverage, exemptions, and enforcement.