- A new bill could bring crypto into New York’s official payment system.
- The bill specifically identifies Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as acceptable forms of payment.
Paying state taxes or fines with Bitcoin might soon be possible in New York. A new legislative proposal seeks to allow cryptocurrency payments for a wide range of public obligations, signaling the state’s growing interest in integrating digital assets into its financial infrastructure.
Assemblyman Clyde Vanel introduced Assembly Bill A7788 to the New York State Assembly, according to the New York State Senate report. If passed, the bill would let state agencies accept cryptocurrency payments for various obligations, including taxes, fines, fees, and civil penalties.
The proposal specifically lists Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as eligible assets. The bill represents a shift in how state governments might approach digital currency adoption. It allows agencies the discretion to decide whether or not to accept crypto for payments.
However, it also includes a clause that permits the state to impose a “service fee” for processing crypto transactions. This fee would cover costs incurred by the state or third-party payment processors.
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Digital Assets Gain Ground In New York Policy
This bill is the second crypto-related proposal in New York in just over a month. In March, lawmakers introduced Bill A06515, which targets cryptocurrency fraud by establishing criminal penalties for deceptive schemes, including so-called “rug pulls.”
The momentum appears tied to a broader national trend. Since President Donald Trump took office in January, federal and state lawmakers have shown increased interest in digital asset regulation. During his campaign, Trump pledged to prioritize crypto policy and promote blockchain innovation in the U.S.
Assembly Bill A7788 has reportedly been referred to the Assembly Committee for further consideration. If it advances, it will move on to the state Senate for a potential vote. Its progress will be closely watched by both policymakers and the crypto industry, which has long viewed New York as a regulatory bellwether.
Meanwhile, other states are taking parallel steps. On April 11, Illinois passed legislation aimed at curbing crypto-related fraud following a wave of scams involving memecoins.
