New York Councilman: Bitcoin Could Save City Millions

Last Thursday, New York City councilman Mark Levine introduced a bill that would see the city begin accepting bitcoin for fines and fees and that, he says, could be passed as soon as late June.

Opening up about the bill in a new interview, Levine indicated that he believes New York City has a pressing incentive to begin accepting the payment method, due to its cost advantages when compared to credit cards.

The democrat from the 7th District in northern Manhattan recalls that it was this benefit that led him to introduce the bill, one that will now go through a process of gathering co-sponsors, before heading to a vote with the city’s technology committee and finally a full vote in the city council.