A state legislator in New York has presented a law bill that would allow state agencies to accept payment in cryptocurrency for taxes, fines and other financial obligations owed to the state.
The bill provides that each state agency would have the right to enter into own agreements with natural persons in order to accept cryptocurrency payments for ‘fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations’ or other amounts, including ‘penalties, special assessments and interest, owed to state agencies’.
The bill would also allow state agencies to pay the fees necessary to add transactions to any blockchain they are being stored on. The bill allows payments via currencies such as e.g. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
New York was the first state in the U.S. to ban bitcoin mining in late 2022 when a two-year moratorium on new mining activities was introduced to try to reduce greenhouse gas emissions. The state also has rules that require licensing for cryptocurrency firms. New York has so far been considered hostile to cryptocurrencies.
Currently, some state agencies in the United States still do not accept credit cards, others still accept payments only in cash and by money order. Therefore, it’s not certain how the bill is going to be dealt with.
Source: https://www.theregister.com/2023/01/30/ny_state_cryptocurrency/