The US state of Louisiana announced that it will accept cryptocurrency payments, allowing people to use Bitcoin and stablecoins to pay for state government services, becoming an important driver of "cryptocurrency mainstreaming."
Louisiana Treasurer John Fleming pointed out in a statement that this new service is provided in partnership with Bead Pay, and people can choose to pay with the stable currency USDC or Bitcoin (supports Lightning Network).
He noted that Louisiana’s first cryptocurrency payment transaction was secured by the state Department of Wildlife and Fisheries. According to local media reports, the payment was made in Bitcoin via the Lightning Network for a hunting license.
John Fleming said that using cryptocurrency for payment will "reduce the occurrence of fraudulent transactions." "In the current digital era, government systems must keep pace with the times and embrace new technologies." He added:
By introducing cryptocurrency as a payment option, we are not only innovating, but also giving our citizens more flexibility and freedom when interacting with state governments.
It is worth noting that John Fleming emphasized that this service will convert cryptocurrencies into U.S. dollars, which means that the final payment received by the state government will still be settled in fiat currency to avoid being affected by cryptocurrency market fluctuations.
In June of this year, Louisiana amended its law to ban the use and testing of central bank digital currency (CBDC) payments within the state, and also established relevant rules for cryptocurrency miners.
Overall, the Louisiana government’s decision to accept cryptocurrency payments highlights the growing relevance of digital assets in today’s economy. Residents and businesses in the state can now look forward to making payments using Bitcoin, ushering in a new era of financial transactions.
〈Louisiana, USA announced: State government services will accept payments in BTC and USDC〉 This article was first published on "Block Guest".
