Newsom Pushes Federal Billionaire Tax on National Stage
California's governor is the highest-profile US elected official yet to back a federal wealth levy, putting a structural tax question back on the table for risk-asset valuations.
Crypto tax policy — reporting rules, capital-gains treatment, staking and airdrop taxation, and country-level changes.
California's governor is the highest-profile US elected official yet to back a federal wealth levy, putting a structural tax question back on the table for risk-asset valuations.
As Bitcoin holders age, estate planning has moved from niche concern to industry priority. The right answer depends on family, stack, and jurisdiction, but the prompts themselves are now standard.
A formal draft from Senate Banking would end years of piecemeal IRS guidance, replacing it with statutory rules on custody, DeFi, and reporting that the industry has lobbied for since 2022.
Three top industry groups told the House Ways and Means Committee to advance Carey's bill unchanged, framing it as the sector's second legislative priority after the broader market structure fight.
The industry wants rewards taxed at sale, not creation, and it is telling House tax writers the bill as written is the version worth moving.
A research-forum pitch to skim up to 10% of staking rewards for ecosystem funding lands hardest on Bitmine, whose $258M validator revenue is the single biggest exposure on Ethereum.
The levy hits every wallet move — not just sales — under SB3019, setting a precedent that, if it survives, could ripple into how other states and asset classes treat personal property.
SB3019 imposes a 2% levy on every digital-asset transaction from 2027, including self-custody wallet-to-wallet moves — a structural first among US states and a template other legislatures may copy.
The per-transaction levy lands on exchanges, wallet-to-wallet moves, and custody — a structural drag on retail activity in a state that already ranks among the larger US crypto markets.
The 0.2% Digital Asset Tax Act takes effect January 2027 and targets crypto brokers in a way no other state taxes stocks or bonds — industry lawyers say it will trigger geoblocking and capital flight.
The state sidesteps the federal capital-gains framework entirely — a per-transaction levy that hits rebalances, wallet moves, and DeFi swaps the same way it hits a profitable sale.
Pritzker signed the levy into law days after the crypto industry spent $10M backing the opposing candidate in the state's Democratic primary; with the legislature out of session, the most realistic…
Taking effect in 2027, the levy applies to every Bitcoin and crypto transaction — a structural drag critics say will push digital asset activity out of state.
The levy doesn't touch peer-to-peer transfers directly — but it taxes buying, holding, and storing digital assets alike, and a16z's Miles Jennings warns it could drive builders out of the state.
India's Income Tax Department has issued more than 44,000 notices tied to virtual digital asset (VDA) gains and…
South Korea's Ministry of Finance has determined that tokenized stocks fall under the country's securities framework…
Bitcoin ETFs are paper assets that can be seized, a 70-year-old former TOPGUN graduate told Bitcoin Bram — and he's not buying Michael Saylor's confidence that governments won't confiscate BTC.
A House hearing on cryptocurrency taxation has laid bare a divide among lawmakers over how quickly Congress should move…
Ways and Means opened seven draft bills for discussion, but Democrats flagged mining-deferral abuse risks and Chairman Jason Smith's 'bipartisan' framing was met with only conditional buy-in.
U.S. House lawmakers are preparing to debate a set of crypto tax bills, marking what proponents describe as the "third…