New York state lawmakers propose to impose a tax on Crypto Assets to fund school projects.

According to BlockBeats news on August 15, as reported by cryptoslate, New York legislators are considering a bill to impose taxes on digital asset transactions. The proposal was introduced in the state legislature on August 13, planning to levy a 0.2% sales tax on the buying and selling or transfer of digital assets such as Bitcoin and Ethereum starting in September. According to the proposed bill, tax revenues will be used to support the expansion of substance abuse prevention and intervention programs in schools across upstate New York. Individuals or institutions assisting in these digital asset transactions or transfers will be responsible for paying this tax. If the bill is passed, New York will join an increasing number of regions exploring special taxes on digital asset activities.