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06/17 16:52Бичачий

The cryptocurrency industry has slammed Illinois'

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The cryptocurrency industry has slammed Illinois' newly enacted digital asset tax, calling it the "toughest" tax in the nation. Illinois became the first state in the U.S. to tax cryptocurrency transactions after Governor JB Pritzker signed SB 3019. Illinois Governor JB Pritzker signed SB 3019 yesterday, making Illinois the first state in the nation to tax cryptocurrency transactions. This move was quickly condemned by cryptocurrency industry groups, who had previously urged Pritzker to remove the clause before signing the bill. The Digital Asset Privilege Tax Act, hidden within a 1,624-page tax bill, is part of Illinois' $55.9 billion fiscal year 2027 budget. The bill stipulates a 0.2% tax on any digital asset transactions, transfers, custody, or wallet services conducted on behalf of Illinois customers. The tax will take effect on January 1, 2027, and is expected to generate approximately $60 million in revenue annually—just a fraction of the more than $800 million in new revenue that the broader budget package is projected to generate.

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