{"id":40088,"date":"2025-04-11T19:00:40","date_gmt":"2025-04-11T16:00:40","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=40088"},"modified":"2025-04-11T16:38:20","modified_gmt":"2025-04-11T13:38:20","slug":"bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/","title":{"rendered":"Bill Proposal Submitted in New York That Would Allow Payment with Cryptocurrency"},"content":{"rendered":"<p class=\"\" data-start=\"87\" data-end=\"508\">A <strong>New York lawmaker<\/strong> has introduced a bill aimed at legalizing <a href=\"https:\/\/coinengineer.net\/blog\/ripple-and-sec-put-xrp-lawsuit-on-hold-amid-settlement-talks\/\"><strong>cryptocurrency payments<\/strong><\/a> for state-related transactions, signaling a step toward integrating digital assets in public services. The proposal, introduced by Assemblyman Clyde Vanel, seeks to amend the state\u2019s financial law to allow state agencies to accept payments in popular cryptocurrencies like <strong data-start=\"446\" data-end=\"457\">Bitcoin<\/strong>, <strong data-start=\"459\" data-end=\"471\">Ethereum<\/strong>, <strong data-start=\"473\" data-end=\"485\">Litecoin<\/strong>, and <strong data-start=\"491\" data-end=\"507\">Bitcoin Cash<\/strong>.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/#Legalizing_Digital_Payments_for_State_Services\" title=\"Legalizing Digital Payments for State Services\">Legalizing Digital Payments for State Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/#Imposing_Service_Fees_on_Crypto_Payments\" title=\"Imposing Service Fees on Crypto Payments\">Imposing Service Fees on Crypto Payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/#Looking_Ahead_A_Digital_Future_for_New_York\" title=\"Looking Ahead: A Digital Future for New York?\">Looking Ahead: A Digital Future for New York?<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"\" data-start=\"510\" data-end=\"560\"><span class=\"ez-toc-section\" id=\"Legalizing_Digital_Payments_for_State_Services\"><\/span>Legalizing Digital Payments for State Services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"562\" data-end=\"979\">The legislation, known as <strong data-start=\"588\" data-end=\"611\">Assembly Bill A7788<\/strong>, would enable state agencies to accept <strong data-start=\"651\" data-end=\"678\">cryptocurrency payments<\/strong> for a variety of services. This includes payments for <strong data-start=\"733\" data-end=\"742\">fines<\/strong>, <strong data-start=\"744\" data-end=\"763\">civil penalties<\/strong>, <strong data-start=\"765\" data-end=\"774\">taxes<\/strong>, <strong data-start=\"776\" data-end=\"784\">fees<\/strong>, <strong data-start=\"786\" data-end=\"794\">rent<\/strong>, and other financial obligations owed to the state. The bill outlines that state offices could also accept crypto payments for <strong data-start=\"922\" data-end=\"935\">penalties<\/strong>, <strong data-start=\"937\" data-end=\"960\">special assessments<\/strong>, and <strong data-start=\"966\" data-end=\"978\">interest<\/strong>.<\/p>\n<p class=\"\" data-start=\"981\" data-end=\"1355\">This proposed move places <strong data-start=\"1007\" data-end=\"1019\">New York<\/strong> at the forefront of <strong data-start=\"1040\" data-end=\"1067\">cryptocurrency adoption<\/strong>, following other states\u2019 steps to embrace blockchain technology. The bill marks the second <strong data-start=\"1159\" data-end=\"1189\">crypto-focused legislation<\/strong> in New York in just over a month, with the first being a bill introduced in March aimed at combating crypto fraud and protecting investors from scams like rug pulls.<\/p>\n<h3 class=\"\" data-start=\"1357\" data-end=\"1401\"><span class=\"ez-toc-section\" id=\"Imposing_Service_Fees_on_Crypto_Payments\"><\/span>Imposing Service Fees on Crypto Payments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1403\" data-end=\"1855\">Should the bill pass, New York could become one of the first states to legally integrate <strong data-start=\"1492\" data-end=\"1510\">cryptocurrency<\/strong> into the public sector&#8217;s financial infrastructure. However, the bill also includes provisions that could see a <strong data-start=\"1622\" data-end=\"1645\">state &#8220;service fee&#8221;<\/strong> applied to those making payments using cryptocurrencies. The fee would cover the <strong data-start=\"1727\" data-end=\"1758\">costs incurred by the state<\/strong> in processing cryptocurrency transactions, including transaction fees and other related charges.<\/p>\n<p class=\"\" data-start=\"1857\" data-end=\"2126\">The <strong data-start=\"1861\" data-end=\"1876\">service fee<\/strong> would be capped at an amount not exceeding the actual costs incurred by the state. This clause ensures that the state could charge a reasonable fee, similar to how other types of financial transactions might be charged for administrative processing.<\/p>\n<h3 class=\"\" data-start=\"2128\" data-end=\"2177\"><span class=\"ez-toc-section\" id=\"Looking_Ahead_A_Digital_Future_for_New_York\"><\/span>Looking Ahead: A Digital Future for New York?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"2179\" data-end=\"2439\"><strong>Assembly Bill A7788<\/strong> is currently under review by the <strong data-start=\"2232\" data-end=\"2254\">Assembly Committee<\/strong> and could progress to the state <strong data-start=\"2287\" data-end=\"2297\">Senate<\/strong>. If passed, it could lead to a significant shift in how <strong data-start=\"2354\" data-end=\"2366\">New York<\/strong> integrates digital assets into its daily operations and payment systems.<\/p>\n<p class=\"\" data-start=\"2441\" data-end=\"2774\">This legislation is part of a broader trend in the United States, where political momentum for <strong data-start=\"2536\" data-end=\"2565\">cryptocurrency regulation<\/strong> has been gaining traction. With the potential to transform public sector payments, New York could be setting the stage for a future where digital currencies are part of the fabric of public financial systems.<\/p>\n<hr \/>\n<p class=\"\" data-start=\"2441\" data-end=\"2774\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a><b>\u00a0<\/b>and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A New York lawmaker has introduced a bill aimed at legalizing cryptocurrency payments for state-related transactions, signaling a step toward integrating digital assets in public services. The proposal, introduced by Assemblyman Clyde Vanel, seeks to amend the state\u2019s financial law to allow state agencies to accept payments in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and<\/p>\n","protected":false},"author":29,"featured_media":34840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[14219,61,330,58,105,167,14220],"class_list":["post-40088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-assembly-committee","tag-bitcoin","tag-bitcoin-cash","tag-cryptocurrency","tag-ethereum","tag-litecoin","tag-new-york-regulation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bill Proposal Submitted in New York That Would Allow Payment with Cryptocurrency - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bill Proposal Submitted in New York That Would Allow Payment with Cryptocurrency - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"A New York lawmaker has introduced a bill aimed at legalizing cryptocurrency payments for state-related transactions, signaling a step toward integrating digital assets in public services. 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The proposal, introduced by Assemblyman Clyde Vanel, seeks to amend the state\u2019s financial law to allow state agencies to accept payments in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and","og_url":"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/","og_site_name":"Coin Engineer","article_published_time":"2025-04-11T16:00:40+00:00","article_modified_time":"2025-04-11T13:38:20+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/crypto_ce-1024x576.png","type":"image\/png"}],"author":"Emre Yumlu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emre Yumlu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/","url":"https:\/\/coinengineer.net\/blog\/bill-proposal-submitted-in-new-york-that-would-allow-payment-with-cryptocurrency\/","name":"Bill Proposal Submitted in New York That Would Allow Payment with Cryptocurrency - 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