A new bill introduced in the New York State Assembly aims to pave the way for state agencies to accept cryptocurrency payments. Bill A7788, sponsored by Assemblymember Clyde Vanel, proposes amending State Finance Law Section 4-b to grant state agencies authority to negotiate agreements with crypto issuers or payment providers. These agreements would outline the processing procedures and conditions under which the state might accept cryptocurrency transactions. If passed, state agencies could utilize this provision for a wide range of payments, as long as final, unconditional payment is confirmed by the cryptocurrency issuer. Agencies may also impose fees to offset transaction costs associated with crypto payments. This bill follows previous attempts to introduce similar legislation in New York State, including bills A9782 (2017-2018), A1500 (2019-2020), and A2532 (2023-2024). However, none advanced past the legislative process. The bill currently resides within the Assembly Governmental Operations Committee. If approved, it would take effect 90 days after becoming law.