Abill has been introduced in New York State, USA. A bill has been introduced that would allow state agencies to accept cryptocurrency payments, including bitcoin, ether, lite coin, and bitcoin cash. The bill proposes to allow crypto to be used as a “means of payment for fines, civil penalties, rent, fees, taxes, fees, and charges.”
Bill Allowing State Agencies to Accept Crypto Payments
According to the bill description on the New York State Senate website, New York State Assemblyman Clyde Vanel introduced a bill Thursday that would “establish crypto currency as a form of payment for state agencies.” Assembly Bill A2532 has been referred to the New York State Assembly’s Government Operations Committee. According to its summary, the bill
would provide that state agencies be allowed to accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as payments.
The bill seeks to amend New York’s State Finance Law by adding “cryptocurrency as a means of payment.” The bill defines cryptocurrency as “any form of digital currency that operates independently of a central bank, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, that uses cryptography to regulate the creation of currency units and to verify the transfer of funds.”
According to its text, the bill would allow state agencies to enter into contracts with individuals or entities to accept cryptocurrencies “as a means of payment for fines, civil penalties, rent, fees, charges, taxes, commissions, revenues, financial obligations, or other amounts, including penalties, special assessments, and interest, owed to state agencies.” Proposed to authorize.
This week, Arizona State Senator Wendy Rogers introduced a similar bill to allow state agencies to accept cryptocurrencies. She also launched a bill to make bitcoin legal tender in her state.
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