A new bill working its way through New York’s legislature would allow residents to pay state agencies with crypto.
New York State Assemblyman Clyde Vanel (D-Queens) introduced Assembly Bill A7788 on Thursday, and the potential legislation was referred to the Standing Committee on Governmental Operations.
If passed, the bill would enable all state agencies to enter into agreements with individuals to receive crypto payments for fines, civil penalties, rent, rates, taxes, fees, charges, revenue and/or financial obligations.
Other states have also taken similar steps. In 2022, Colorado became the first state to accept crypto for tax payments, and last September, Louisiana enabled its residents to pay for state services with digital assets. Similar bills have also bubbled up in California and Florida.
Vanel introduced similar bills in 2017, 2019, 2021 and 2023. The lawmaker, who has a long history of supporting crypto-related legislation, also recently introduced Assembly Bill 7716, which would direct the New York State Board of Elections to study and evaluate the use of blockchain technology to protect voter records and election results.
If passed, the bill would require the State Board of Elections to submit a report about blockchain technology to the governor and the legislature within a year of the legislation taking effect.
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