New York Bill Proposes Crypto Payments for State Services
The legislation, Assembly Bill A7788, was proposed by Assemblyman Clyde Vanel, a known advocate for financial innovation and emerging technologies.
Bill A7788: Crypto for Taxes, Fines, and More
If passed, the bill would amend New Yorks financial laws to allow state agencies to accept payments in a range of popular cryptocurrencies. These include:
According to the bill text, state offices could accept these digital assets for payments such as taxes, fines, fees, civil penalties, rent, rates, and other financial obligations. It would also extend to special assessments, interest charges, and revenues owed to the state.
A Step Toward Modernized Public Finance
The proposal represents a notable shift in how public sector agencies might integrate blockchain and digital assets. While the bill does not require agencies to accept crypto, it authorizes them to do so if they chooseoffering flexibility while opening the door to broader crypto adoption in government services.
Assemblyman Vanel has previously backed other blockchain-related legislation, and this latest move adds to a growing body of efforts aimed at modernizing financial infrastructure in New York, long considered a major hub for both traditional finance and fintech innovation.
New York joins a small but growing number of U.S. states exploring similar ideas. While some states have trialed crypto tax payments or blockchain-based public records, mainstream government use of crypto remains limited.
If Assembly Bill A7788 gains momentum, New York could become a leader in state-level digital asset adoption.
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Text source: Coindoo
