Illinois just signed the most aggressive bitcoin tax in the US.
Starting January 2027, the state will impose a 0.20% tax on the gross value of digital assets exchanged, transferred, or stored for customers.
Buy bitcoin? Taxed.
Transfer bitcoin? Taxed.
Hold with a custodian? Taxed.
No profit required. No capital gain. Just moving a digital asset triggers the tax.
Move $1M through a bank wire, ACH, or brokerage and Illinois takes nothing. Move that same $1M as a digital asset and the state takes $2,000.
There is no comparable tax on stocks, bonds, derivatives, bank deposits, or any traditional financial transaction anywhere in the country.
The message to every bitcoin company in Illinois is clear: leave.
Starting January 2027, the state will impose a 0.20% tax on the gross value of digital assets exchanged, transferred, or stored for customers.
Buy bitcoin? Taxed.
Transfer bitcoin? Taxed.
Hold with a custodian? Taxed.
No profit required. No capital gain. Just moving a digital asset triggers the tax.
Move $1M through a bank wire, ACH, or brokerage and Illinois takes nothing. Move that same $1M as a digital asset and the state takes $2,000.
There is no comparable tax on stocks, bonds, derivatives, bank deposits, or any traditional financial transaction anywhere in the country.
The message to every bitcoin company in Illinois is clear: leave.
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