💥New York is about to redefine the crypto world with the proposal of bill A8966, which seeks to impose a 0.2% tax on the sale and transfer of crypto assets, including cryptocurrencies and NFTs, starting in September 2025. What does this mean? This tax aims to finance prevention and intervention programs against substance abuse in schools in the northern part of the state, demonstrating that financial innovation can go hand in hand with social welfare.
New York positions itself as a pioneer in the U.S. with this measure that could set a trend in other states by directly taxing transactions of blockchain-based digital assets. If you are an investor or consumer of crypto, this change may impact the way you operate, making you consider the additional cost in each sale or transfer.
Beyond the tax, this movement reflects a regulation that seeks balance: to incentivize fiscal responsibility without holding you back in the crypto market.
Being informed is key to adapting and taking advantage of what’s coming. New York is not only innovating in digital finance but also in how these can contribute to a social cause.
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Disclaimer ⚠️
This publication was created for informational and educational purposes. It is not an investment recommendation, nor legal, tax, or financial advice. 🚫
In this community, knowledge is your best defense.