Illinois Governor JB Pritzker signed Senate Bill 3019 on Tuesday, enacting a 0.2% tax on crypto transactions. The decision drew immediate criticism from crypto advocates who pushed him to strike the provision.

The measure is projected to generate more than $800 million in additional tax revenue to help fund the state’s $55.9 billion fiscal 2027 budget.

A Crypto Tax Bundled Into the Budget

The legislation introduces several new tax initiatives, with major revenue sources expected to come from taxes on digital advertising, sports betting, cryptocurrency investors, and social media.

The Digital Asset Privilege Tax Act takes effect January 1, 2027. It charges 0.2% of the value of the digital asset involved in a…