Crypto industry aghast at Illinois' new tax on

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Crypto industry aghast at Illinois' new tax on holding or transferring digital assets in state budget

If you live in Illinois, heads up on the most insane tax bill ever to be passed into law. This effectively charges every action involving digital assets (even just moving assets) with a 0.2% tax starting January 1, 2027.

Move from an exchange to your cold wallet? Taxed.

Move from your cold wallet to an exchange? Taxed.

Sell assets at a loss (no capital gains). Taxed

Illinois sucks
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Crypto industry aghast at Illinois' new tax on holding or transferring digital assets in state budget

The 0.2% tax on any business activity involving digital assets was added last-minute, and is unlikely to change, two people familiar with the matter said.

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Crypto industry aghast at Illinois' new tax on holding or…

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