New York Takes Step Towards Integrating Bitcoin & Crypto in State Payments

New York is poised to revolutionize its government payments by enabling state agencies to accept cryptocurrency as a form of payment, a significant move that reflects the growing political interest in digital assets. Bill A7788, introduced by Assemblyman Clyde Vanel, proposes updating state financial laws to allow for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) payments. The bill will enable government agencies to accept these cryptocurrencies for a diverse range of purposes, including fines, civil penalties, rent, taxes, fees, tolls, revenues, and more.