New York is contemplating a bill that would permit residents to utilize cryptocurrencies like Bitcoin and Ethereum for state-related payments, including taxes. The model legislation, dubbed Assembly Bill A7788, has been introduced by Assemblyman Clyde Vanel. Cryptocurrencies for any payments they need to make. This proposal could pave the way...
Little did we know that New York is on the cusp of its own financial revolution. In one such development, a proposed bill might soon let state agencies accept crypto payments. This decision has the potential to reshape what it means for residents, businesses and the wider burgeoning crypto industry...
To be frank, it’s a race against the clock, to put it mildly. If we want New York to continue to be a global leader, we need to not be mired in the past. I think Bitcoin is coming to New York in what will turn out to be a...
It’s definitely radicalizing me. It’s making me wonder. On the surface, paying taxes and fees with Bitcoin or Ether sounds like a taxpayer’s dream, right? It would be the first time a state government has formally recognized the increasing importance of digital assets. Her roiling creativity is obvious, and I...
The New York State Assembly is taking an important lead by considering Bill A7788. This legislative proposal would allow state agencies to begin accepting cryptocurrency payments. Assemblyman Clyde Vanel was the bill’s primary sponsor to amend the state’s usury laws. This amendment will pave the way for the state to...
New York. The city that never sleeps. The financial capital of the world. And now, potentially, a crypto haven. Assembly Bill A7788, allowing state agencies to accept cryptocurrency payments, isn't just another piece of legislation – it's a strategic masterstroke. Here's why:1. Tax Revenue Beyond ImaginationThink about it. We always...
New York is on the cusp of undergoing a seismic shift in its financial landscape. It would be another step behind other jurisdictions that are taking real, concrete steps to welcome cryptocurrencies and blockchain tech into their economies. BlockTraderHub.com is here to break down what this all means for you....
The industry of crypto has often found itself with a target on its back. As digital assets have moved further into the mainstream, so has the clamoring for regulation. New York Attorney General Letitia James has recently weighed in on the issue. She’s been pushing Congress to act with courage...
New York Attorney General Letitia James, meanwhile, has urged Congress to pass wide-ranging federal legislation to govern cryptos. James goes on to caution that the lack of any nationwide standards are putting U.S. investors and markets in peril. She cautions against the dangers of having a wildcat cryptocurrency industry. She...