A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, 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 cryptocurrencies as a form of payment for state agencies,” according to the bill’s description on the New York State Senate website. Assembly Bill A2532 has been referred to the New York State Assembly Committee on Government Operations. According to its summary, the bill:
Establishes that state agencies are allowed to accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as payment.
The bill seeks to amend New York’s state finance law by adding “cryptocurrency as a form of payment.” The legislation defines cryptocurrency as “any form of digital currency in which encryption…