New York Senate Democratic Assembly Member Clyde Vanel has introduced a bill to the New York State on January 26 which’ll allow state agencies to accept cryptocurrency as a method of payment for taxes, civil penalties, fees and fines.
The bill states that state agencies can enter into “agreements with persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payment” for various types of fees,” which includes “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.”
Often seen as a crypto-friendly politician, Vanel’s bill feeds into the aim of achieving omnipresence of centralization and central bank-controlled crypto operations, and it will need to be passed by the New York Assembly and Senate, as well as signed into law by the state's Governor, Kathy Hochul to become part of the law.
Sources:
https://cointelegraph.com/news/new-york-legislator-introduces-crypto-payments-bill-for-fines-taxes
You might also be interested in
Subscribe to our Newsletters - the best way to stay informed about the crypto world. No spam. You can unsubscribe anytime.
Please enter your email address
Email is invalid
By sharing your email, you consent to recieving BITmarket's newsletter.
Read how we process your data in our Privacy policy.
Subscribe to our Newsletters - the best way to stay informed about the crypto world. No spam. You can unsubscribe anytime.
If you have any questions about cryptocurrencies or need some advice, I'm here to help. Let us know at [email protected]