New York Lawmaker Introduces Bill to Allow State Agencies to Accept Cryptocurrency Payments

A bill introduced by Assemblyman Clyde Vanel in New York aims to allow state agencies to accept cryptocurrency payments, indicating a growing trend towards digital asset integration in public services. The bill, known as A7788, seeks to amend state financial law to permit the acceptance of Bitcoin, Ether, Litecoin, and Bitcoin Cash. If passed, state offices could authorize crypto payments for various purposes, including fines, taxes, fees, and penalties. This legislation marks the second crypto-focused bill introduced in New York in a little over a month, highlighting the state's increasing focus on cryptocurrency regulation and adoption. Additionally, the bill includes provisions for the state to impose a service fee on crypto payments, potentially covering transaction costs and fees incurred.