2025-12-29 20:20:21

California's proposed 5% wealth tax targeting individuals with net worth exceeding $1 billion has sparked pushback from the cryptocurrency industry. Executives and stakeholders within the crypto space have voiced concerns about the measure, raising questions about implementation, economic impact, and the state's broader regulatory stance toward digital assets. The proposal represents another flashpoint between policymakers seeking new revenue streams and the Web3 sector fighting to establish clearer, more favorable tax frameworks.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes

Reward
7
4
Repost
Share

Comment

0/400

GraphGuru

· 5h ago

This 5% wealth tax wave in California is really outrageous, directly targeting crypto holdings? Are these people trying to push all the big players out?

View OriginalReply0

VCsSuckMyLiquidity

· 5h ago

California is at it again, taxing wealth with this ridiculous scheme ngl these politicians really don't understand how digital assets work Here they come again, is it California this time? I've been saying this will drive away all the big money No, how do you calculate net assets? Does the floor price of NFTs count? California is short on money and just going to squeeze crypto? That's so greedy Some whales are scared and are moving to Miami This 5% may not sound like much, but it's a massive bleed, and they've driven away everyone they could Including gas fees, everyone is losing money

View OriginalReply0

PhantomHunter

· 5h ago

ngl California's recent move is really outrageous, a 5% wealth tax? Just pushing the rich out... Crypto bros, this time you've really hit the government's nerve. Enforcement is too complicated, they can't track everything clearly. Want to harvest profits and still keep a good image, how is that possible? That's why everyone is BUILDING the Ethereum ecosystem... Wait, can the government really figure out all BTC addresses? Just asking.

View OriginalReply0

Rugpull幸存者

· 5h ago

Here it comes again, California wants to fleece the rich directly? That 5% tax rate is really harsh. --- Honestly, California's move is really pushing us to leave… Isn't this another signal of being unfriendly to crypto? --- Wealth tax… sounds good, but it gets complicated when it comes to on-chain assets. How do you value them, everyone? --- Haha, California wants money on one hand and wants to regulate us on the other—this logic is just incredible. --- Another case showing why you should go to a neutral jurisdiction… California really --- When the government is short of money, they turn to us. This routine is all too familiar. --- Wait, is this 5% annual or a one-time charge? How does the algorithm work? No one can explain it clearly, right? --- My goodness, if California really passes this, how many people will be eager to migrate? --- Just one thing to say: how can they impose a 5% tax on digital assets? It’s not like real estate…

View OriginalReply0