Governor J.B. Pritzker signed a proposal that will take effect on January 1, 2027. It is expected that the new legislation will bring the state $800 million. The tax will be collected by service providers such as exchanges, depositories, and brokers from each transaction by Illinois residents. Andreessen Horowitz CLO Miles Jennings called the bill one of the most anti-cryptocurrency measures in the U.S. The Illinois Blockchain Association and other crypto companies also criticized the bill. They argue that it will penalize Illinois residents simply for using digital assets. Additionally, it will drive innovators and developers out of the state. Illinois is home to Jump Crypto (market maker), Zero Hash (B2B infrastructure), Bitnomial (derivatives exchange), and Apex Crypto (custodian).