A bill has been introduced in the US state of New York to Allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes to allow cryptocurrencies to be used as “a means of payment for fines, civil penalties, rent, fees, taxes, fees, charges” and more.
Bill to allow state agencies to accept crypto payments
New York State Assembly member Clyde Vanel introduced a bill Thursday that “establishes cryptocurrency as a form of payment for state agencies,” according to the bill’s description on the Senate website. of the State of New York. Assembly Bill A2532 has been referred to the New York State Assembly Committee on Government Operations. According to its summary, the bill:
It establishes that state agencies can accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as a form of payment.
The bill seeks to amend New York state finance law by adding “cryptocurrency as a form of payment.” The legislation defines cryptocurrency as “any form of digital currency in which encryption techniques are used to regulate the generation of currency units and verify the transfer of funds, which operates independently of a central bank, including but not limited to bitcoin, ethereum , litecoin, and bitcoin cash.”
According to its text, the bill proposes to authorize state agencies to enter into agreements with persons or entities to accept cryptocurrencies “as a means of payment of fines, civil penalties, rents, fees, taxes, fees, charges, income, financial obligations or others. amounts, including penalties, special assessments, and interest, owed to state agencies.”
This week, Arizona State Senator Wendy Rogers introduced a similar bill to allow state agencies to accept cryptocurrency. She also launched a bill to make Bitcoin legal tender in her state.
Do you think this bill will pass and state agencies will be able to accept crypto payments? Let us know in the comments section.
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