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Illinois Crypto Tax Faces Pushback
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
A coalition called the Crypto Council for Innovation (CCI) has urged Illinois Governor J.B. Pritzker to veto Article 3 of SB 3019, known as the Digital Asset Privilege Tax Act. The group argues the proposal would impose a 0.2% tax on certain digital asset transactions, including exchanges, transfers, and custody activities, making Illinois the only U.S. state with such a tax. The issue matters because critics say the measure could increase costs for crypto users, discourage investment, and make Illinois less attractive for blockchain startups and innovation. Next, Governor Pritzker must decide whether to approve the legislation or issue a line-item veto. The decision could shape Illinois’ future role in the digital asset industry.
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