New York lawmakers have proposed a 0.2% sales tax on cryptocurrency transactions, potentially raising $158 million in tax revenue annually.
2025/08/16 08:24
PANews reported on August 16th that, according to Decrypt, New York State Assemblyman Phil Steck has proposed imposing a 0.2% sales tax on cryptocurrency transactions, with the proceeds used to help schools in upstate New York combat drug abuse. Chainalysis estimates that this tax would generate $158 million in tax revenue annually, based on data from 2022 to 2023 and recent GDP statistics.
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