by: xpoolPosted on:

New York Proposes 0.2% Crypto Tax to Fund Schools

New York lawmakers are proposing a new excise tax on cryptocurrency and NFT transactions, aiming to generate funds for school substance abuse programs in upstate areas. The proposed 0.2% tax will apply to facilitating entities such as exchanges, custodians, and payment processors starting September 1, 2025. While the bill focuses on transaction facilitators rather than individual users, concerns are rising about its impact on market liquidity and innovation within New York.

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