News 
April 11, 2025 
3 min. 
The New York Bill, officially known as Assembly Bill A7788, proposes allowing state agencies to accept cryptocurrencies like Bitcoin and Ethereum for payments. Introduced by Assemblyman Clyde Vanel, the bill aims to amend current laws to enable the use of digital assets for state-related fees and services.
Which Cryptocurrencies Could Be Accepted?
The New York Bill outlines a proposal that could allow residents to pay state-related costs, such as taxes, fines, fees, rent, and civil penalties using select cryptocurrencies. If passed, the bill would authorize payments in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
This move would give New Yorkers greater flexibility in how they settle financial obligations with the state. To ensure cost fairness, the bill also allows the government to charge a service fee, limited to covering the actual expenses involved in processing crypto payments. These may include blockchain network fees or charges from third-party processors.
Assembly Bill A7788 is not the first crypto-focused legislation to surface in New York. Just last month, lawmakers introduced Bill A06515 with the aim of curbing crypto fraud and scams like rug pull schemes where project developers vanish with investor funds. The close timing of these proposals signals a growing commitment among state lawmakers to regulate and integrate digital assets responsibly.
On a national scale, President Donald Trump’s return to office in January has further fueled crypto discussions. During his campaign, Trump pledged to support blockchain innovation and weave cryptocurrency into the fabric of the U.S. economy. As a result, several states started exploring crypto regulations.
Assembly Bill A7788 is currently under review by the Assembly Committee. If it progresses through the legislature and gains Senate approval, New York could become the first state in the U.S. to officially accept cryptocurrency for government-related payments.
