New York Assembly Introduces New Crypto Payment Bill

NEWYORK

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

https://news.bitcoin.com/new-york-considers-bill-to-establish-cryptocurrency-as-a-form-of-payment-for-state-agencies/

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