TechFlow news, August 16 — According to Decrypt, New York State Assembly member Phil Steck introduced a bill on August 14 proposing a 0.2% sales tax on cryptocurrency transactions in the state. The proposed tax would apply to transactions involving digital assets including NFTs, assets obtained through mining and staking, and stablecoins. Based on Chainalysis data analysis, the tax is expected to generate approximately $158 million in annual revenue for New York State.
The bill is currently in its initial stage, and specific implementation rules and timelines have not yet been announced.
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