Louisiana now allows residents to use Bitcoin and USDC to pay state agencies, starting with the Department of Wildlife and Fisheries, facilitated by Bead Pay. Bitcoin Accepted: Louisiana Allows BTC, USDC Payments for State Services
Crypto payments will be converted to US dollars at the time of transaction, protecting the state from cryptocurrency volatility.
The initiative follows a bill signed in June 2024, which supports Bitcoin mining and crypto self-custody and even bans CBDCs for state payments.
Louisiana has become one of the few US states to allow residents to use Bitcoin (BTC) and Circle’s USDC to make payments to state agencies, starting with the Department of Wildlife and Fisheries. This initiative aims to enhance customer service and may expand to other departments in the future.
You can read more Crypto articles
According to the press release, all payments made in crypto will be converted into US dollars at the time of the transaction, facilitated by Bead Pay, a crypto payment processor.
Louisiana State Treasurer John Fleming emphasised that the new payment option offers flexibility while protecting the state from cryptocurrency volatility.
No CBDCs Allowed
This development follows Louisiana’s passage of House Bill 488, signed into law on June 19, 2024.
The bill offers legal protections for Bitcoin users and miners while banning Central Bank Digital Currencies (CBDCs) for state payments. It supports digital asset self-custody, promotes Bitcoin mining in industrial areas, and ensures transactional freedom. Bitcoin Accepted: Louisiana Allows BTC, USDC Payments for State Services
Going back to Louisiana, State Representative Mark Wright highlighted the positive impact of integrating new technologies for residents to engage with state services.
Most in the crypto community welcomed the initiative and deemed it a step forward in crypto adoption.
However, it’s not the first state to do so, as Colorado was the first to accept crypto for tax payments in 2022.
Follow HiTrend on X
