New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies – Regulation Bitcoin News

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New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies – Regulation Bitcoin News
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A bill has been introduced in New York to allow state agencies to accept crypto payments, including bitcoin, ether, and bitcoincash. $BTC $BCH $ETH

A bill has been introduced in the U.S. state of New York to

allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,” and more.New York State Assembly member Clyde Vanel introduced a bill Thursday that “establishes cryptocurrencies as a form of payment for state agencies,” according to the bill’s description on the New York State Senate website.

Establishes that state agencies are allowed to accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as payment. The bill seeks to amend New York’s state finance law by adding “cryptocurrency as a form of payment.” The legislation defines cryptocurrency as “any form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank including but not limited to, bitcoin, ethereum, litecoin, and bitcoin cash.

According to its text, the bill proposes authorizing state agencies to enter into agreements with individuals or entities to accept cryptocurrency “as a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.”a similar bill to allow state agencies to accept cryptocurrency. She also launched a bill to make bitcoin legal tender in her state.

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