Louisiana has officially accepted its first crypto payment, marking a significant step in the state's adoption of digital currencies for government services.
Louisiana has officially accepted its first crypto payment, marking a significant step in the state's adoption of digital currencies for government services.
On September 17, State Treasurer John Fleming announced that residents can now utilize Bitcoin (BTC), the Bitcoin Lightning Network, and USD Coin (USDC) for payments related to state services.
The inaugural transaction was completed for a fine paid to the Louisiana Department of Wildlife and Fisheries using the Bitcoin Lightning Network.
This development follows a collaborative effort between state officials, Bead Pay, and local integration partners aimed at enhancing payment options and reducing fraudulent transactions.
Fleming emphasized that while the state is now accepting crypto, all payments will be converted into U.S. dollars, mitigating concerns regarding the volatility of digital currencies.
This approach is intended to provide citizens with more flexibility when interacting with state services while ensuring financial stability for the government.
The initiative has its roots in a digital assets working group established by Republican State Representative Mark Wright in 2022, which identified crypto as a viable payment method.
Wright has been an advocate for expanding payment options, previously leading a resolution that acknowledged Bitcoin’s creator, Satoshi Nakamoto, for their contributions to economic security.
In June, Louisiana passed legislation prohibiting participation in central bank digital currencies (CBDCs) and establishing guidelines for crypto miners and node operators.
The law explicitly bans the state from accepting or requiring payments in CBDCs, while still allowing other forms of digital currency.
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