by: xpoolPosted on:

New York to Implement 0.2% Crypto Tax for School Funding

The state of New York is proposing a new tax on cryptocurrency transactions, aiming to fund substance abuse programs in upstate schools. Assembly Bill 8966 would impose a 0.2% excise tax on all cryptocurrency trades within the state, effective August 16, 2025. This measure could significantly impact market activity in New York’s crypto sector, pending legislative approval and implementation.

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