New York State Receives Crypto Bill Allowing State Agencies to Accept Cryptocurrencies as Payment

The New York State Legislature has reportedly received a draft proposal that would allow state agencies to legalize the acceptance of cryptocurrencies as a method of payment for fines, taxes, fees, civil penalties, and other state-related expenses. The crypto legislation, known as Assembly Bill A2532, was introduced by prominent cryptocurrency advocate Democratic Congressman Clyde Vanel. Currently, the bill has been submitted to the Government Operations Committee of the New York State Assembly for further study and amendment. According to the legislative process, the bill still needs to be passed by the New York State Assembly and Senate, as well as the governor's approval to become law.