A bill has been introduced to the New York Senate that would make cryptocurrencies a legal form of payment in state agencies, Watcher.Guru reports. The legislation was set forth on January 26th and divulges changes to the state’s current financial law to introduce the use of cryptocurrencies.
The legislation states that the amendment would legally allow, “New York state agencies to accept cryptocurrencies as a form of payment.” Moreover, the document dedicates several sections to the defining of cryptocurrencies under the introduced amendment. Specifically, allowing the acceptance of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as payment options.
The bill states that “Each state agency is authorized to enter into an agreement with persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payment of fines, civil penalties, rent, rates, taxes,” and more civil duties. The bill is set to change the very landscape of integrated digital assets in one of America’s largest cities.