New York Proposes Bill to Accept Cryptocurrency for State Payments

Albany, NY — A new legislative proposal could make New York one of the first states to officially accept cryptocurrency for a wide range of public transactions. Assembly Bill A7788, recently introduced in the New York State Assembly, seeks to authorize state agencies to accept digital assets such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for payments. In a major move toward crypto adoption, New York State has introduced Assembly Bill A7788, a proposed law that would allow state agencies to accept cryptocurrencies for a variety of public payments. New York State has taken a significant step towards crypto adoption with Assembly Bill A7788, allowing state agencies to accept cryptocurrencies for public payments. Introduced on April 10, 2025, by Assemblymember Clyde Vanel, the bill is currently under review by the Assembly Governmental Operations Committee. If enacted, it would permit the use of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for fines, civil penalties, taxes, fees, and other official charges. This initiative signals New York's openness to integrating blockchain technology and digital assets into public services, potentially setting a precedent for other states. The bill's progress will be closely monitored, with involvement from citizens, industry experts, and crypto advocates encouraged.

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Key Details:

Bill Number: A7788

Introduced: April 10, 2025

Sponsor: Assemblymember Clyde Vanel (D)

Status: Referred to Assembly Governmental Operations Committee

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What the Bill Would Allow:

If passed, state agencies in New York could accept the following cryptocurrencies as payment for:

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH)

Accepted for use in:

Fines

Civil penalties

Taxes

Fees

Other official charges

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Why It Matters:

This bill reflects New York’s growing willingness to embrace blockchain-based solutions and digital asset integration into public services. If passed, it could set a precedent for other states to follow.

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Next Steps:

The bill is currently being reviewed in committee. Lawmakers will debate, amend, or advance it in the coming weeks. Citizens, industry experts, and crypto advocates are encouraged to stay engaged.

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For updates and more crypto legislation coverage, stay tuned.