Crypto Payment Bill For State Agencies Received By New York Assembly
Key Points:
- The New York State Assembly has been given a bill that will let state organizations to accept cryptocurrencies as payment for fines, taxes, fees, civil penalties, and other state-related obligations.
- The recently proposed cryptocurrency law, known as Assembly Bill A2532, seeks to make cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash acceptable forms of payment for all state entities in the city of New York.
- Bill A2532, which was introduced on Thursday, has been forwarded to the New York State Assembly Committee on Government Operations for additional research and potential revisions.
The New York State Assembly has been given a bill that will let state organizations to accept cryptocurrencies as payment for fines, taxes, fees, civil penalties, and other state-related obligations.
Democratic legislator Clyde Vanel, a well-known supporter of cryptocurrencies, submitted the bill on Thursday during a legislative session.
Clyde Vanel, who represents New York’s 33rd congressional district, is well known for having sponsored various laws that were favorable to cryptocurrencies in the past, most notably the Cryptocurrency and Blockchain Study Task Force bill.
The recently proposed cryptocurrency law, known as Assembly Bill A2532, seeks to make cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash acceptable forms of payment for all state entities in the city of New York.
In order to accomplish this, the bill suggests allowing these agencies to collaborate with pertinent parties in order to accept cryptocurrency assets as payment 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.”
New York State Assembly Committee on Government Operations for additional research and potential revisions
Bill A2532, which was introduced on Thursday, has been forwarded to the New York State Assembly Committee on Government Operations for additional research and potential revisions.
The bill still needs to be approved by both the Assembly and Senate in New York before it can be signed into law, in accordance with the legislative procedure.
In related events, Wendy Rogers, a senator now serving in Arizona, introduced a related bill on Wednesday during a legislative session. In addition to allowing all state agencies to accept cryptocurrencies as legal tender, the Republican senator’s plan recommended that Bitcoin become a recognized form of payment in Arizona.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Author
News
Crypto Payment Bill For State Agencies Received By New York Assembly
Key Points:
- The New York State Assembly has been given a bill that will let state organizations to accept cryptocurrencies as payment for fines, taxes, fees, civil penalties, and other state-related obligations.
- The recently proposed cryptocurrency law, known as Assembly Bill A2532, seeks to make cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash acceptable forms of payment for all state entities in the city of New York.
- Bill A2532, which was introduced on Thursday, has been forwarded to the New York State Assembly Committee on Government Operations for additional research and potential revisions.
The New York State Assembly has been given a bill that will let state organizations to accept cryptocurrencies as payment for fines, taxes, fees, civil penalties, and other state-related obligations.
Democratic legislator Clyde Vanel, a well-known supporter of cryptocurrencies, submitted the bill on Thursday during a legislative session.
Clyde Vanel, who represents New York’s 33rd congressional district, is well known for having sponsored various laws that were favorable to cryptocurrencies in the past, most notably the Cryptocurrency and Blockchain Study Task Force bill.
The recently proposed cryptocurrency law, known as Assembly Bill A2532, seeks to make cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash acceptable forms of payment for all state entities in the city of New York.
In order to accomplish this, the bill suggests allowing these agencies to collaborate with pertinent parties in order to accept cryptocurrency assets as payment 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.”
New York State Assembly Committee on Government Operations for additional research and potential revisions
Bill A2532, which was introduced on Thursday, has been forwarded to the New York State Assembly Committee on Government Operations for additional research and potential revisions.
The bill still needs to be approved by both the Assembly and Senate in New York before it can be signed into law, in accordance with the legislative procedure.
In related events, Wendy Rogers, a senator now serving in Arizona, introduced a related bill on Wednesday during a legislative session. In addition to allowing all state agencies to accept cryptocurrencies as legal tender, the Republican senator’s plan recommended that Bitcoin become a recognized form of payment in Arizona.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Other Posts
Related Posts
Latest
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
Press Release
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
