Illinois Enacts the Strictest Digital-Asset Tax in the US as Industry Group Urges Veto

Crypto Insight Summary: 1. 3. 5. Illinois Governor JB Pritzker has signed SB 3019, the Digital Asset Privilege Tax Act, making the state the first in the country to impose a transaction-based tax on everyday digital-asset activity. The Crypto Council for Innovation is pushing for a line-item veto of Article 3. By:• 0 hours ago Regulation & Politics Illinois Governor JB Pritzker has signed SB 3019, the Digital Asset Privilege Tax Act, , making the state the first in the country to impose a transaction-based tax on everyday digital-asset activity. The , a global industry alliance, has formally of Article 3, the section that establishes the levy. The bill taxes digital-asset exchange, transfer, and custody at a rate of 0.2% per transaction, applying at each point of use rather than tying the tax to income or capital gains. CCI CEO Ji Hun Kim wrote to Pritzker urging a line-item veto of Article 3. Crypto Insight Analysis: Direction: Bearish Crypto Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Illinois' new transaction tax adds friction to crypto usage, but limited to one state.