On August 15, according to Cryptoslate, New York state legislators are considering a bill to impose a tax on digital asset transactions.
The proposal was introduced in the state legislature on August 13, planning to levy a 0.2% consumption tax on the buying or transferring of digital assets such as Bitcoin and Ethereum starting from September.
According to the proposed bill, the tax revenue will be used to support the expansion of substance abuse prevention and intervention programs in schools in upstate New York. Individuals or institutions assisting in these digital asset purchases or transfers will be responsible for paying this tax. If the bill is passed, New York will join the growing list of regions exploring specialized taxation on digital asset activities.
