🚨 New York Wants to Tax Crypto Transactions 🚨

Assemblymember Phil Steck has introduced Bill A8966, proposing a 0.2% excise tax on all digital asset sales & transfers — including crypto & NFTs.

📅 If passed:

Starts Sept 1

Funds go to school substance abuse prevention programs in Upstate NY 🏫

📊 Why it matters:

New York City = Global finance + crypto hub 💼

Could generate massive tax revenue

Might push some firms to leave NY (like with the BitLicense in 2015)

💡 State-level crypto taxes vary:

TX: No corporate/income tax

WA: Exempts crypto from taxes

CA & NY: Treat crypto as cash

#CryptoNewss #Bitcoin #NFTs #NewYork #Blockchain

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