{"id":42552,"date":"2023-01-28T00:00:32","date_gmt":"2023-01-28T00:00:32","guid":{"rendered":"https:\/\/egrowonline.com\/?p=42552"},"modified":"2023-01-28T00:00:32","modified_gmt":"2023-01-28T00:00:32","slug":"new-york-senate-bill-proposes-legalizing-crypto-for-payment-in-state-agencies","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=42552","title":{"rendered":"New York Senate Bill Proposes Legalizing Crypto for Payment in State Agencies"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400\">A new bill introduced to the New York Senate seeks to make certain cryptocurrencies a legal form of payment for state agencies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This would include accepting crypto as payment for civil penalties, fines, taxes, and other fees charged by the state.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">As detailed in the <\/span><a target=\"_blank\" href=\"https:\/\/www.nysenate.gov\/legislation\/bills\/2023\/a2532\" data-wpel-link=\"external\" rel=\"noopener\"><span style=\"font-weight: 400\">legislation<\/span><\/a><span style=\"font-weight: 400\"> set forth on Thursday, accepted cryptocurrencies would include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, though it could include more.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Specifically, the legislation describes cryptocurrency as \u201cany form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.\u201d\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The bill would allow the state to voluntarily enter into agreements \u201cwith persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payment,\u201d though they would not be legally bound to accept such transactions.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The proposal was introduced by Democratic Assembly Member Clyde Vanel. He is often regarded as a crypto-friendly politician, though many members of his party oppose crypto for fears of its <\/span><a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/23-congressional-democrats-call-for-investigating-proof-of-work-facilities\/\" data-wpel-link=\"internal\" rel=\"noopener\"><span style=\"font-weight: 400\">environmental impact<\/span><\/a><span style=\"font-weight: 400\"> and use for <\/span><a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/senator-warrens-bill-will-hurt-crypto-not-russia-opinion\/\" data-wpel-link=\"internal\" rel=\"noopener\"><span style=\"font-weight: 400\">sanctions evasion<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Last week, a bill was introduced in Arizona by senator Wendy Rogers to make Bitcoin and other cryptos legal tender across the state. Like Vanel\u2019s bill, it would allow state agencies to enter agreements with cryptocurrency issuers to provide a pathway to citizens for paying taxes rent, and fines in crypto.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Rogers proposed a <\/span><a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/arizona-state-senator-proposes-a-bill-to-make-bitcoin-legal-tender\/\" data-wpel-link=\"internal\" rel=\"noopener\"><span style=\"font-weight: 400\">similar bill<\/span><\/a><span style=\"font-weight: 400\"> in January 2022, but it didn\u2019t appear to gain traction.\u00a0<\/span><\/li>\n<\/ul>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" rel=\"nofollow noopener\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\" rel=\"noopener\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" rel=\"nofollow noopener\" data-wpel-link=\"internal\">Use this link<\/a> to register &amp; enter POTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiZ2h0dHBzOi8vY3J5cHRvcG90YXRvLmNvbS9uZXcteW9yay1zZW5hdGUtYmlsbC1wcm9wb3Nlcy1sZWdhbGl6aW5nLWNyeXB0by1mb3ItcGF5bWVudC1pbi1zdGF0ZS1hZ2VuY2llcy_SAQA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new bill introduced to the New York Senate seeks to make certain cryptocurrencies a legal form of payment for state agencies. This would include accepting crypto as payment for civil penalties, fines, taxes, and other fees charged by the state.\u00a0 As detailed in the legislation set forth on Thursday, accepted cryptocurrencies would include Bitcoin, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[8194,1314,62,12048,588,1220,1947,2813,4286],"class_list":["post-42552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-agencies","tag-bill","tag-crypto","tag-legalizing","tag-payment","tag-proposes","tag-senate","tag-state","tag-york"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/new_york-min.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42552"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42552\/revisions"}],"predecessor-version":[{"id":42554,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42552\/revisions\/42554"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/42553"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42552"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}