New York is considering establishing cryptocurrency as a means of payment for government agencies - regulation
New York is considering establishing cryptocurrency as a means of payment for government agencies - regulation
In the US state of New York, a draft law has been introduced . They enable state authorities to accept cryptocurrency payments, including Bitcoin, Ether, Litecoin and Bitcoin Cash. Legislation suggests Krypto as a “means of payment for fines, civil punishments, rents, tariffs, taxes, fees, levies” and more to use.
Bill to Allow State Agencies to Accept Crypto Payments
Clyde Vanel, a member of New York State Assembly, presented a draft law on Thursday that "introduces cryptocurrencies as a means of payment for government agencies", according to the description of the draft law on the website of the New York State Senate. The draft law A2532 of the meeting was expelled to the Committee on Government Operations of the New York State Assembly. According to his summary, the bill is:
stipulates that state bodies can accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash as a means of payment.
The draft law aims to change the state financial law of New York by adding "cryptocurrency as a means of payment". The legislation defines cryptocurrency as "any form of digital currency in which encryption techniques are used to regulate the generation of currency units and to check the money transfer that are operated regardless of a central bank, including but not limited, Bitcoin, Ethereum, Litecoin, and Bitcoin-Cash."
According to his text, the draft law suggests authorizing state bodies, making agreements with individuals or organizations in order to accept cryptocurrencies “as a means of payment for fines, civil law punishments, rents, sentences, taxes, fees, taxes, income, financial obligations or other amounts, including fine, special assessments and interest rates that are due to state. become. “
This week, Senator of the state of Arizona, Wendy Rogers introduced enables cryptocurrencies to be accepted. She also launched a legislative template to make Bitcoin a legal means of payment in her state.
Do you believe that this legislation is passed and that state bodies can accept crypto payments? Let us know in the comment area below.
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