Crypto Pushes Back on California’s 5% Wealth Tax

California’s proposed “Billionaire Tax Act” has lit a fire under the crypto industry.

A 5% levy on billionaires, including unrealized gains, would force asset sales and, critics warn, push founders and capital out of the state.

Industry leaders are calling it an innovation tax dressed up as redistribution.

If the state pushes on, the fight wouldn’t be about money alone but about where the next generation of tech actually gets built. $BTC $ETH $XRP