A brand new invoice working its approach by means of New York’s legislature would enable residents to pay state businesses with crypto.
New York State Assemblyman Clyde Vanel (D-Queens) launched Assembly Bill A7788 on Thursday, and the potential laws was referred to the Standing Committee on Governmental Operations.
If handed, the invoice would allow all state businesses to enter into agreements with people to obtain crypto funds for fines, civil penalties, hire, charges, taxes, charges, fees, income and/or monetary obligations.
Different states have additionally taken comparable steps. In 2022, Colorado turned the primary state to accept crypto for tax payments, and final September, Louisiana enabled its residents to pay for state companies with digital belongings. Comparable payments have additionally bubbled up in California and Florida.
Vanel launched comparable payments in 2017, 2019, 2021 and 2023. The lawmaker, who has an extended historical past of supporting crypto-related laws, additionally just lately introduced Meeting Invoice 7716, which might direct the New York State Board of Elections to review and consider the usage of blockchain expertise to guard voter data and election outcomes.
If handed, the invoice would require the State Board of Elections to submit a report about blockchain expertise to the governor and the legislature inside a 12 months of the laws taking impact.
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