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FAMEEX Hot Topics | New York Assembly introduces crypto payments bill for fines, taxes

2023-01-28 18:16:55

New York State Assembly Bill A523 was introduced by Democratic Assembly Member 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.” To become law, the bill will need to be passed by the New York Assembly and Senate, as well as signed into law by the state's Governor, Kathy Hochul.

Extract from article of Cointelegraph

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