NFT News Today Official TheBitTimes.com

The bill clarifies that state agencies can legally agree to accept cryptocurrency payments and that these agreements should be enforced by the courts. A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees and other payments charged by the state. JUST IN: A New York Senate has introduced a bill to allow #Crypto as a form of payment — Interpret Crypto (@interpretcrypto) January 27, 2023 New York State Assembly Bill A523 was introduced by Democratic Assembly Member Clyde Vanel, who is often seen as a crypto -friendly politician. It allows state agencies to enter into “agreements with persons to provide the acceptance, by offices of the state, of crypto currency as a means of payment ” for various types of fees, including “ fines , civil penalties, rent, rates, taxes , fees, charges, revenue, financial obligations or other amounts, including penalties, special ass...

The “Digital Asset Issuance” legislation will also create a regulatory body, and establish a legal framework for all digital assets. El Salvador has passed landmark legislation providing the legal framework for a Bitcoin-backed bond — known as the “Volcano Bond” — which will be used to pay down sovereign debt and fund the construction of its proposed “Bitcoin City”. The bill passed on Jan. 11 with 62 votes for and 16 against, and is set to become law after it is ratified by President Bukele. #Plenaria90 Con 62 votos a favor, creamos la Ley de Emisión de Activos Digitales. pic.twitter.com/g1poXwLoH3 — Asamblea Legislativa (@AsambleaSV) January 11, 2023 The National Bitcoin Office of El Salvador announced the passage of the bill in a Jan. 11 tweet thread, noting that they will begin issuing the bonds soon. 3/ El Salvador is the epicenter of Bitcoin adoption, and thus, economic freedom, financial sovereignty, censorship resistance & unconfiscatable wealth. When we issue the ...