Clyde Vanel, deputy of the New York Assembly, proposed a bill that will allow state-owners to accept bitcoin, broadcast, Litecoin and Bitcoin Cash as a form of payment.

The bill adds a new section to the current law of public finance. If the document is adopted in cryptocurrencies, it will be possible to pay fines, taxes, rent and other types of obligations.

From the text of the bill it follows that state institutions will receive the right to draw up contracts with issuers of digital assets or other subjects that will provide such services. In addition, state bodies will be able to levy a service fee, and they will cover the costs of processing transactions, including commissions for cryptocurrency payments.

If the bill Claid Vanel is accepted, it will enter into force 90 days after signing. During this time, government agencies will be able to prepare the necessary regulatory acts and infrastructure for the implementation of the provisions of the law, the people’s deputy believes.

Earlier, the Prosecutor General of New York Leticia James (Letitia James) Turned To the US Congress call to adopt new federal laws that will provide more stringent rules for the cryptocurrency market.