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A bill introduced in the New York State Assembly would empower government agencies to collect payments in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Assembly Bill A7788, sponsored by Assemblyman Clyde Vanel, aims to amend the State Finance Law to bring digital assets into public revenue collection for fines, fees, taxes and other obligations. nysenate.gov
Assemblyman Vanel explained that modernizing payment options “reflects the growing reality that cryptocurrencies are no longer fringe assets but mainstream forms of value transfer.” Under the proposal, agencies could enter agreements with crypto issuers to accept digital currencies for “fines, civil penalties, rent, rates, taxes, fees, charges, revenue [and] financial obligations”—including interest and special assessments. cointelegraph.com
Optional Service Fee to Cover Costs
The bill also includes a provision allowing New York to impose a “service fee not exceeding costs incurred by the state in connection with the cryptocurrency payment transaction.” This measure is intended to ensure taxpayers do not shoulder the burden of higher processing expenses or blockchain network fees. cointelegraph.com
If enacted, A7788 would mark the second major crypto initiative in New York in just over a month. In March, legislators unveiled A06515, targeting fraudulent digital-asset schemes and strengthening penalties for “rug pull” scams. Observers note that momentum for crypto-friendly policy has gained traction since President Trump signaled an intention to make digital-asset regulation a national priority.
Next Steps
Following its April 10 introduction, A7788 has been referred to the Assembly Governmental Operations Committee. Should it pass that review, the legislation would advance to the state Senate for consideration. Advocates say the measure could streamline public payments and position New York as a leader in government-backed crypto adoption—provided that robust safeguards and consumer protections are built into the final law.
For ongoing coverage of state-level crypto legislation and regulatory developments, visit Press News.