Bitcoin

Time

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<ul>
 <li aria-level="1">New York’s Assembly carefully weighs a bill legalizing crypto payments, letting citizens settle taxes, fees, and penalties statewide.</li>
 <li aria-level="1">Similar protocols gained traction in Colorado and Louisiana, paving avenues for residents to adopt cryptocurrencies in government transactions.</li>
</ul>
New York lawmakers are examining a plan that would permit residents to pay government charges with crypto. Assemblyman Clyde Vanel, a Democrat from Queens, recently <a href="https://www.nysenate.gov/legislation/bills/2025/A7788" rel="noopener noreferrer nofollow">introduced</a> Assembly Bill A7788, which has now been directed to the Standing Committee on Governmental Operations. If it becomes law, state agencies could accept digital assets for taxes, penalties, fees, and other obligations.
This measure mirrors steps taken by other U.S. states. For instance, Colorado moved to allow crypto for tax payments in 2022, and Louisiana soon enabled digital asset transactions for selected public services. Similar proposals also emerged in California and Florida, reflecting a slow shift in how local authorities manage alternative payment tools.
Notably, this is not Vanel’s first attempt at adding digital currencies to <a href="https://www.ethnews.com/trump-makes-history-with-first-bitcoin-transaction-in-new-york-bar/" rel="noopener noreferrer nofollow">official processes</a>. He has introduced comparable legislation multiple times since 2017. Beyond these fiscal proposals, he also introduced Assembly Bill <a href="https://assembly.state.ny.us/leg/?default_fld=&amp;amp;bn=A06515&amp;amp;term=2025&amp;amp;Summary=Y&amp;amp;Actions=Y&amp;amp;Text=Y&amp;amp;Committee%26nbspVotes=Y&amp;amp;Floor%26nbspVotes=Y" rel="noopener noreferrer nofollow">7716</a>, which would require the State Board of Elections to assess how blockchain can strengthen the protection of voter data.
If passed, the board must submit a report on blockchain’s potential to both the governor and the legislature within a year of the legislation’s activation. That requirement points to a broader interest in harnessing ledger technology for election security.
ETHNews analysts <a href="https://www.ethnews.com/new-york-prosecutors-shift-focus-away-from-crypto-under-trump-administration/" rel="noopener noreferrer nofollow">say</a> a successful adoption of <a href="https://www.nysenate.gov/legislation/bills/2025/A7788" rel="noopener noreferrer nofollow">Bill A7788</a> might alter how public agencies handle payments. This potential step could encourage fresh thinking around the role of virtual currencies in government transactions. 
Yet, some citizens have raised questions about the practicality of paying with crypto. Market volatility, technical barriers, and regulatory frameworks all come into play, so any changes would require close coordination between authorities and the public.
Assemblyman Vanel has a history of championing digital finance bills. ETHNews <a href="https://www.ethnews.com/coinbase-to-suspend-trading-for-three-meme-tokens-in-new-york-what-it-means/" rel="noopener noreferrer nofollow">suggest</a> that these initiatives highlight the effort to keep local statutes aligned with ongoing shifts in payment habits.
The post <a href="https://www.ethnews.com/tax-time-in-crypto-lawmakers-weigh-bitcoin-adoption-for-public-fees-and-services/" rel="noopener noreferrer nofollow">Tax Time in Crypto: Lawmakers Weigh Bitcoin Adoption for Public Fees and Services</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Tax Time in Crypto: Lawmakers Weigh Bitcoin Adoption for Public Fees and Services

ETHNews

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