⚡️UPDATE: New York bill proposes 0.2% tax on digital asset transactions starting September. pic.twitter.com/vOHBQZ7fgY
— Cointelegraph (@Cointelegraph) August 15, 2025
“Assembly Bill A08966, introduced August 13 and referred to the Ways and Means Committee, would take effect September 1, 2025… The legislation places responsibility for tax payment on ‘the person or persons making or effectuating the sale or transfer,’ potentially creating compliance challenges for exchanges, traders, and DeFi protocols operating in New York.” https://cryptonews.com/news/new-york-assembly-bill-seeks-0-2-excise-tax-on-crypto-and-nft-transactions/
“Supporters say the tax is modest, but adds up fast for frequent traders… That could mean exchanges, traders, or DeFi platforms must adapt to collect or remit the fee.” https://blockonomi.com/new-york-targets-0-2-from-each-crypto-trade-traders-risk-fee-drain/
“The primary purpose of the proposed tax is to pay for programs in upstate New York schools that stop and help people with drug and alcohol problems.” https://financefeeds.com/new-york-lawmaker-proposes-tax-on-crypto-sales/
“The Democrat official introduced Bill 8966 to the state’s Assembly, seeking to add a 0.2% excise tax on digital asset transactions… The bill seeks to tax digital asset payments and potentially generate compliance headwinds for exchanges, traders, and DeFi protocols operating in the state.” https://www.msn.com/en-us/money/markets/new-york-lawmaker-introduces-bill-to-tax-digital-asset-sales-and-transfers/ar-AA1KAj4D
