Illinois Bill Would Impose 0.2% Tax on Crypto Transfers Starting January 1, 2027

Illinois SB3019 would create a 0.2% tax on the value of cryptocurrency transfers after January 1, 2027. According to NS3.AI, the tax would apply even when Illinois residents move crypto without realizing a profit. The proposal would require centralized exchanges to collect the tax if they operate in Illinois or if they earn more than $100,000 from Illinois customers in a rolling 12-month period.