The newly introduced New York State Legislature bill aims to allow state agencies to accept cryptocurrency as a form of payment.
Congressional Bill A7788, sponsored by lawmaker Clyde Vanel, proposes that it can begin accepting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash for fines, taxes, rents and other payments.
The bill, introduced on April 10, 2025, amends the state’s fiscal laws by adding Section 4-B, granting the authority the authority to enter into agreements with crypto issuers or payment providers.
These agreements define how payments are processed and the conditions under which the state accepts or rejects cryptocurrency transactions.
If enacted, state agencies may accept cryptocurrency for a wide range of obligations, provided that the cryptocurrency issuer confirms final and unconditional payments. According to the bill, agents may require a service fee from the payer to offset transaction costs, including fees paid to the Crypto issuer.
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I solved my debt
The bill emphasizes that the debt will not be considered resolved until the state receives full payment from the Crypto issuer via Fiat. This will help the state avoid volatility risk and maintain accounting standards.
This is not the first time such a law has been proposed in New York. A similar version was introduced in previous sessions, including Bill A9782 (2017-2018), A1500 (2019-2020), and A2532 (2023-2024), but none went into the law.
The bill currently belongs to the Parliamentary Government Operations Committee. If approved, it will take effect 90 days after it becomes law.
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