New York Assemblymember introduces a bill for crypto payment of fines and taxes.
by Democratic Assemblymember 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.
The bill does not obligate state agencies to accept crypto as payment, but it does clarify that state agencies can legally agree to accept such payments and that these agreements should be enforced by the courts. The bill defines “cryptocurrency” as “any form of digital currency in which encryption techniques are used to regulate the generation of units of currency [...] Including but not limited to, bitcoin, ethereum, litecoin and bitcoin cash.”
Depending on how this definition is interpreted, it may or may not include stablecoins like USD Coin (
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