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HomeFinanceNew York Assembly introduces crypto payments bill for fines, taxes By Cointelegraph

New York Assembly introduces crypto payments bill for fines, taxes By Cointelegraph



A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees and other payments charged by the state.

New York State Assembly Bill A523 was introduced by Democratic Assembly Member Clyde Vanel, who is often seen as a crypto-friendly politician. It allows state agencies to enter into “agreements with persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payment” for various types of fees, including “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.”