【New York State Proposes Cryptocurrency Transaction Tax, Expected to Generate $158 Million Annually】According to a report by Golden Finance and Decrypt, New York State legislator Phil Steck has proposed a bill to impose a 0.2% sales tax on cryptocurrency transactions statewide, which is expected to generate an additional $158 million annually. The funds will be used for drug prevention and intervention programs in schools in northern New York State. This tax covers digital assets such as NFTs, mining, staking income, and stablecoins. Currently, eight states, including New York and California, treat cryptocurrencies as cash equivalents for tax purposes and have imposed capital gains tax, gift tax, and estate tax on digital assets.