A New York lawmaker, Clyde Vanel, wants to let you pay your taxes and other government fees using cryptocurrency. He’s proposed a bill that would allow state agencies to accept Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Crypto Payments for Government Fees
The bill, A7788, would change New York state’s finance law to allow this. You could use crypto to pay things like taxes, fines, rent, and other fees owed to the state. The state could charge extra fees to cover the costs of processing these crypto payments.
The bill is currently under review. It could be changed, rejected, or approved for a vote.
More Than Just Taxes: Vanel’s Crypto Push
This isn’t Vanel’s only crypto-related bill. He also recently proposed another bill (A7716) to study using blockchain technology to secure voter records and election results.
A Broader US Trend
This bill is part of a bigger trend. The US government seems to be warming up to crypto. Many states are considering creating Bitcoin reserves, and federal agencies like the SEC and FDIC are taking a more positive approach to regulating the crypto industry. The SEC has even dropped some major lawsuits against crypto companies.
