Good news:
New York bill proposes legalizing Bitcoin, crypto for state payments
The bill seeks to legalize cryptocurrency payments using Bitcoin, Ethereum, Litecoin and Bitcoin Cash, but may mandate an an additional state “service fee” for these transactions.
A New York lawmaker has introduced legislation that would allow state agencies to accept cryptocurrency payments, signaling growing political momentum for digital asset integration in public services.
Assembly Bill A7788, introduced by Assemblyman Clyde Vanel, seeks to amend state financial law to allow New York state agencies to accept cryptocurrencies as a form of payment.
It would permit state agencies to accept payments in Bitcoin
BTC
$81,955
, Ether
ETH
$1,557
, Litecoin
LTC
$75.86
and Bitcoin Cash
BCH
$301.59
, according to the bill’s text.
Source: Nysenate.gov
According to the bill, state offices could authorize crypto payments for “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts,” as well as penalties, special assessments and interest.
