tldr; New York Assemblymember Phil Steck has proposed Bill A0966 to impose a 0.2% excise tax on cryptocurrency transactions, potentially generating $158 million annually. The revenue would fund substance abuse prevention programs in upstate New York schools, addressing the opioid crisis. The bill targets various digital assets, including NFTs and stablecoins, and highlights the environmental and fraud-related concerns of the crypto industry. The legislation follows scrutiny of crypto firms like Gemini and aims to regulate the growing sector in New York.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
JNed99 on
New york today?
schniedelstein on
And lots of money leaving the state 👍
Suspicious-Kiwi123 on
Why would anyone live in NY with the way they want to confiscate their citizens income
Financial_Clue_2534 on
Tradfi is already getting disrupted due to crypto this will just just deter companies from staying in New York.
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Figures look really small no?
tldr; New York Assemblymember Phil Steck has proposed Bill A0966 to impose a 0.2% excise tax on cryptocurrency transactions, potentially generating $158 million annually. The revenue would fund substance abuse prevention programs in upstate New York schools, addressing the opioid crisis. The bill targets various digital assets, including NFTs and stablecoins, and highlights the environmental and fraud-related concerns of the crypto industry. The legislation follows scrutiny of crypto firms like Gemini and aims to regulate the growing sector in New York.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
New york today?
And lots of money leaving the state 👍
Why would anyone live in NY with the way they want to confiscate their citizens income
Tradfi is already getting disrupted due to crypto this will just just deter companies from staying in New York.