New York State Could Soon Accept Digital Currency

A new proposed bill could change how state agencies accept payments in New York State.

New York State Assembly Bill A7788 would allow state agencies in New York to develop a system to collect digital currency as a form of payment.

If the bill is passed into law, state agencies would be able to accept digital currency such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as payment. Currently, New York State only accepts cash, credit, and checks for payment.

The bill is currently in the New York State assembly committee and would need to be passed by both the house and senate before it goes before New York Governor Kathy Hochul, who would need to sign it into law.

If passed into law, the change would begin on January 1st, 2026.

READ MORE: NEW LAWS THAT START IN APRIL IN NEW YORK STATE

Several major companies already have a process to accept digital currency as a form of payment. Those companies include Twitch, Pizza Hut, Apple, AT&T, and PayPal.

More and more companies are moving in the direction of accepting digital currency as a form of payment. This would be a big step for New York State, as only a few states accept digital currency as a form of payment.

Colorado has been accepting cryptocurrency for state tax payments, including individual income tax, since 2022. Utah also allows cryptocurrency payments for individual income taxes, with some restrictions. Louisiana is the latest state to start accepting cryptocurrency as payment for certain state services.

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