According to CoinMeta, Illinois plans to impose a 0.2% tax on crypto transactions, regardless of whether traders are making a profit or incurring a loss. The bill is set to take effect on January 1, 2027, but it is currently facing resistance from the public, businesses, and legislators. The Illinois Department of Finance officially released a draft digital asset tax law on September 29th, which was signed by Governor J.B on June 16th as part of the 2027 fiscal year budget bill. Unlike most states that follow federal IRS regulations, Illinois' tax law will impose a 0.2% "privilege tax" on all crypto activities, including crypto conversions, transfers, and basic custody services. As a result, Illinois will require all crypto service providers operating in the state or with annual revenues exceeding $100,000 to register compulsorily. Failure to comply will constitute a third-degree felony. Supporters argue that the state government has the right to tax digital infrastructure and expect that crypto taxes will contribute about $60 million to the budget. However, there is a strong public outcry against this proposal, with many believing it violates Trump's directive to make the United States a global center for crypto.