Louisiana continues pro-crypto push with option to pay state agencies in Bitcoin, USDC

Louisiana has implemented a caller enactment for residents to marque payments to authorities agencies utilizing Bitcoin and Circle’s stablecoin USDC, according to a Sept. 18 press release.

The Louisiana Department of Wildlife and Fisheries volition beryllium the archetypal bureau to judge these payments, with the anticipation of enlargement to different authorities departments successful the future. Secretary Madison Sheahan said offering integer outgo options aligns with the department’s extremity of enhancing lawsuit service.

The Louisiana Department of Wildlife and Fisheries has already processed the archetypal outgo done the caller strategy and received a outgo via the Bitcoin Lightning network.

Louisiana State Treasurer John Fleming said the modulation aims to supply residents with much flexibility portion ensuring that the authorities remains protected from the volatility of crypto markets. As such, payments made successful crypto volition beryllium converted into US dollars astatine the clip of the transaction.

Fleming said:

“By introducing cryptocurrency arsenic a outgo option, we are providing different mode for citizens to interact with authorities services portion maintaining safeguards to guarantee the state’s fiscal stability.”

The strategy volition beryllium supported by Bead Pay, a institution specializing successful crypto payments. The steadfast volition facilitate the conversion of integer currencies into US dollars. The authorities volition not clasp cryptocurrency directly, and funds volition beryllium deposited into authorities accounts likewise to accepted debit oregon recognition paper transactions.

State Representative Mark Wright (R-Covington), who has been a proponent of integer assets legislation, welcomed the enlargement of outgo options, saying:

“This is simply a affirmative measurement guardant successful offering caller technologies for residents to prosecute with authorities government.”

Lousiana’s pro-Bitcoin push

The determination to judge crypto payments for authorities services follows a bid of pro-crypto policies by the Louisiana government. Earlier this year, Louisiana Governor Jeff Landry signed a bill banning cardinal slope integer currencies (CBDCs) and safeguarding the rights of residents to self-custody and excavation crypto.

The bill, HB 488, prohibited authorities authorities from participating successful national tests related to CBDCs and ensured that individuals and businesses could freely usage and store crypto. The authorities besides protected location and commercialized crypto mining activities, positioning Louisiana arsenic a authorities unfastened to innovation successful the integer plus space.

The latest determination to integrate cryptocurrency payments with authorities services builds connected this momentum, highlighting the state’s broader committedness to embracing integer fiscal technologies portion balancing regulatory oversight.

The station Louisiana continues pro-crypto propulsion with enactment to wage authorities agencies successful Bitcoin, USDC appeared archetypal connected CryptoSlate.