New York lawmaker wants to tax crypto sales and transfers

New York Assemblymember Phil Steck introduced a bill that would see the state tax the sale and transfer of crypto assets.

The US state of New York may tax the sales and transfers of crypto and non-fungible tokens (NFTs), under a bill submitted in the state’s Assembly.

Assembly Bill 8966, introduced on Wednesday by Democratic Assemblymember Phil Steck, would add a 0.2% excise tax on “digital asset transactions, including the sale or transfer of digital assets.”

The bill, if passed, would take effect immediately and apply to all sales and transactions, starting Sept. 1.

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