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New York bill proposes legalizing Bitcoin, crypto for state payments

A New York lawmaker has introduced legislation that would allow state agencies to accept cryptocurrency payments, signaling growing political momentum for digital asset integration in public services.

Assembly Bill A7788, introduced by Assemblyman Clyde Vanel, seeks to amend state financial law to allow New York state agencies to accept cryptocurrencies as a form of payment.

It could permit state agencies to accept payments in Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the bill’s text.

New York bill proposes legalizing Bitcoin, crypto for state payments

Source: Nysenate.gov

According to the bill, state offices could authorize crypto payments for “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts,” as well as penalties, special assessments and interest.

Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial system

Cryptocurrency legislation is becoming a focal point in New York, with Bill A7788 marking the state’s second crypto-focused legislation in a little over a month.

In March, New York introduced Bill A06515, aiming to establish criminal penalties to prevent cryptocurrency fraud and protect investors from rug pulls.

Crypto-focused legislation has gathered momentum since US President Donald Trump took office on Jan. 20, with Trump signaling during his campaign that his administration intends to make crypto policy a national priority, as well as making the US a global hub for blockchain innovation.

Related: Illinois Senate passes crypto bill to fight fraud and rug pulls

New York may mandate state “service fee” on crypto payments

If passed, the bill would mark a significant shift in how New York handles digital assets. It would allow state entities to integrate cryptocurrency into the payment infrastructure used for collecting public funds.

The proposal also includes a clause allowing the state to impose a service fee on those choosing to pay with crypto. According to the text, the state may require “a service fee not exceeding costs incurred by the state in connection with the cryptocurrency payment transaction.” This could include transaction costs or fees owed to crypto issuers.

Assembly Bill A7788 has been referred to the Assembly Committee for review and may advance to the state Senate as the next step.

New York’s legislation comes shortly after the state of Illinois passed a crypto bill to fight fraud and rug pulls, after the recent wave of insider schemes related to memecoins, Cointelegraph reported on April 11.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

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BlackRock Bitcoin ETF set for ‘monstrous lead’ with SEC options boost

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BlackRock Bitcoin ETF set for ‘monstrous lead’ with SEC options boost

BlackRock Bitcoin ETF set for ‘monstrous lead’ with SEC options boost

BlackRock’s Bitcoin ETF will get a boost from the SEC’s decision to raise the limit for options contracts 10-fold, NYDIG’s Greg Cipolaro said.

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CFTC starts ‘crypto sprint’ with SEC following White House plans

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CFTC starts ‘crypto sprint’ with SEC following White House plans

CFTC starts ‘crypto sprint’ with SEC following White House plans

The Commodity Futures Trading Commission will work with the Securities and Exchange Commission to implement White House crypto recommendations.

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£100m border security boost – as govt vows ‘major crackdown’ on people smuggling gangs

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£100m border security boost - as govt vows 'major crackdown' on people smuggling gangs

The government has vowed to push for a “major new crackdown” on people smuggling gangs with a £100m cash boost for border security.

The investment will support the pilot of the new “one in, one out” returns agreement between the UK and France, and other efforts to crack down on small boat crossings.

Home Secretary Yvette Cooper said this new funding will “strengthen” the government’s “serious and comprehensive plan” to dismantle the business model of criminal gangs smuggling migrants across the Channel.

But the Conservatives have claimed the cash injection will make “no real difference”, with shadow home secretary Chris Philp branding the move a Labour “gimmick” and a “desperate grab for headlines”.

The funding will pay for up to 300 new National Crime Agency (NCA) officials, “state-of-the art” detection technology and new equipment to “smash the networks putting lives at risk in the Channel”, ministers say.

It will also allow the Border Security Command, the NCA, the police and other law enforcement agency partners to “strengthen investigations targeting smuggling kingpins and disrupt their operations across Europe, the Middle East, Africa and beyond”.

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July: 25,000 migrants have crossed Channel

The new investment comes as official figures show more than 25,000 people have arrived on small boats so far in 2025 – a record for this point in the year.

Ms Cooper said: “In the last 12 months, we have set the foundations for this new and much stronger law enforcement approach – establishing the new Border Security Command, strengthening the National Crime Agency and UK police operations, increasing Immigration Enforcement, introducing new counter terror style powers in our Border Security Bill, and establishing cooperation agreements with Europol and other countries.

“Now this additional funding will strengthen every aspect of our plan, and will turbo-charge the ability of our law enforcement agencies to track the gangs and bring them down, working with our partners overseas, and using state-of-the-art technology and equipment.

“Alongside our new agreements with France, this will help us drive forward our Plan for Change commitments to protect the UK’s border security and restore order to our immigration system.”

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The £100m investment will also support new powers to be introduced when the Border Security, Asylum and Immigration Bill becomes law, the Home Office said.

This includes the introduction of a UK-wide offence to criminalise the creation and publication of online material that promotes a breach of immigration law, such as the advertisement of small boat crossings on social media.

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July: Hundreds gather for protest outside ‘migrant’ hotel

Research suggests about 80% of migrants arriving to the UK by small boat used internet platforms during their journey – including to contact agents linked to smuggling gangs.

While it is already illegal to assist illegal immigration, ministers hope the creation of a new offence will give police more powers and disrupt business models.

Mr Philp accused the Labour government of having “no serious plan, just excuses, while ruthless criminal gangs flood our borders with illegal immigrants”.

He said: “The British public deserves real action, not empty slogans and tinkering at the edges.”

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