The bill presented in the New York State Legislature suggests that public agencies in that US state can accept Cryptoactive payments, including Bitcoin (BTC), for public services such as taxes, fines, and fees.
The initiative, known as Bill A7788, aims to modernize New York’s financial system and reflects an increasing interest in integrating digital assets into government operations.
Proposal to integrate cryptocurrency into state systems
Bill A7788, introduced by MP Clyde Vannell on April 10, 2025, aims to amend the National Finance Act to allow public agencies to accept cryptocurrency as a means of payment. According to legislative texts, it includes the digital currencies considered Bitcoin, Ethereum (eth), litecoin (LTC) Bitcoin Cash (BCH).
These cryptographic activities can be used to reconcile a Wide range of financial obligationsfrom fines and civil penalties to taxes, income, fees, status, income, and other amounts owed to the state, including interest and special valuations.
suggestion Don’t force the agency Adopt cryptocurrency but empower them to do so through contracts with cryptocurrency emitters or payment service providers.
These contracts define the terms and means in which the transaction is processed, and ensure that payments are final and unconditional. Furthermore, the project considers the possibility The state charges service rates It covers costs associated with cryptocurrency transactions, such as processing platforms and third parties.
The road to approval
A7788 Invoice is currently Under review by the Parliamentary Government Operations Committee. If you move forward, it will be considered by the state Senate, where you can face discussions about its technical, economic, and regulatory viability.
This possible implementation challenge is a need Educate both state employees and citizens About the use of cryptocurrency. Bitcoin and other networks are popular, but their adoption remains limited compared to traditional payment methods. Agents should implement an intuitive and accessible system to avoid payment confusion and errors.
Additionally, New York has taken recent steps to address fraud in the crypto sector, including the introduction of Bill A06515 in March 2025, which attempts to establish criminal sanctions to protect investors.
Meanwhile, out of the 50 states that make up the US, there are already 20 people who have introduced bills to create strategic Bitcoin reserves in the Treasury Department. In that sense, New York has remained outside its initiative so far that it allows for more BTC to be accumulated in its financial resources, but this legislative proposal is a way to accumulate BTC.
(tagstotranslate)bitcoin(btc)
