The government accepts cryptocurrency payments and allows the use of crypto assets for tax payments. Recently, according to well-known crypto media Cointelegraph, the New York State Assembly submitted a bill numbered 7788, proposing to amend the state financial law to authorize state governmental agencies to accept cryptocurrency as a means of payment.
If the bill is successfully passed, state government agencies in New York will be able to legally accept cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) for payment of fines, taxes, rents, and other financial obligations. The bill was proposed by Assemblyman Clyde Vanel, who has been committed to promoting the application of digital assets in public services, aiming to facilitate the use of cryptocurrencies in broader scenarios and further promote the development of New York's digital economy. The introduction of this bill indicates a new shift in New York's attitude toward cryptocurrencies, actively exploring the feasibility of cryptocurrencies in government affairs and public service payments. Currently, the bill is still in the proposal stage and will need to undergo a series of legislative procedures, including review and approval by the New York State Assembly and Senate, as well as the governor's final signature before it can officially become law and take effect. Arthur Hayes: Bitcoin is expected to enter a mode of only rising soon. On April 11, BitMEX co-founder Arthur Hayes posted on the X platform, stating: 'The situation is developing rapidly. If this trend continues, we will see more policy responses this weekend.'
Bitcoin is about to enter a mode of only rising and not falling. Michael Saylor: The U.S. needs Bitcoin; the concept of strategic reserves itself is a monetary strategy. On April 12, news from Cointelegraph reported that Michael Saylor, founder of Strategy (formerly MicroStrategy), stated at an event that Bitcoin does not need the United States; the United States needs Bitcoin. The concept of strategic reserves is itself a monetary strategy. In the modern world, what is money? The 20th-century world has $450 trillion in capital currency, existing in the form of private equity and public equity, foreign real estate, sovereign debt (especially foreign sovereign debt), currencies of other countries, and corporate bonds. Bitcoin is a better currency, so either let the world remain the same or introduce the concept of Bitcoin.
Michael Saylor added that Bitcoin can no longer be stopped because Satoshi Nakamoto ignited this fire, which continues to burn. Every day, tens of millions or even hundreds of millions of dollars flow into the network. Bitcoin will grow from $20 billion to $200 billion, then to $2 trillion, $20 trillion, and $200 trillion.
Data: Ethereum processed $1.18 trillion in stablecoin transfers over the past 30 days, setting a record. On April 12, news from Cointelegraph reported that Ethereum processed stablecoin transfers worth $1.18 trillion in the past 30 days, marking the largest 30-day stablecoin transfer volume in Ethereum's history.
New York State has proposed a bill allowing the state government to accept cryptocurrency payments. Cointelegraph reported on social media that New York has introduced a new bill allowing the state government to accept cryptocurrency as a payment method. North Carolina's proposal aims to allow the use of crypto assets for tax payments. North Carolina legislators have proposed the Digital Asset Freedom Act (H.B. 920), which aims to allow the use of crypto assets in tax and other economic transactions.
The bill stipulates that qualified digital assets must meet a market value of at least $750 billion, a daily trading volume of no less than $10 billion, and have a history of public market operation for over 10 years with resistance to censorship. It also requires decentralization, no pre-mining, no internal distribution, and no centralized control. The bill does not specifically mention assets like BTC.
Previously, the state has proposed several cryptocurrency-related bills, including allowing state treasurers to invest in Bitcoin and allocating part of pension funds to crypto assets. Arizona has passed the Bitcoin Mining Rights Bill. According to Bitcoin Laws, the state of Arizona has officially passed the Bitcoin Mining Rights Bill HB 2342, which protects anyone running nodes or mining digital assets from restrictions on partitioning or usage bans. The bill passed in the Senate today with a vote of 17 to 12 and has now been sent to the governor's office for signing.