A new bill making its way through New York’s legislature would allow residents to pay state agencies in cryptocurrency.
On Thursday, New York State Assemblyman Clyde Vanel (D-Queens) introduced Assembly Bill A7788, which has been referred to the Standing Committee on Governmental Operations.
If passed, the bill would allow all state agencies to form agreements with individuals to accept cryptocurrency payments for fines, civil penalties, rent, rates, taxes, fees, charges, revenue, and/or financial obligations.
Other states have taken similar steps. Colorado became the first state to accept cryptocurrency for tax payments in 2022, and Louisiana allowed residents to pay for state services with digital assets in September of last year. Similar bills have also surfaced in California and Florida.
Vanel proposed similar bills in 2017, 2019, 2021, and 2023. The lawmaker, who has a long history of supporting cryptocurrency legislation, recently introduced Assembly Bill 7716, which would require the New York State Board of Elections to research 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 on blockchain technology to the governor and legislature within a year of its enactment.
