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Louisiana Becomes One of the Few US States to Allow Residents to Use Bitcoin (BTC) and Circle's USDC to Make Payments to State Agencies
Louisiana Becomes One of the Few US States to Allow Residents to Use Bitcoin (BTC) and Circle's USDC to Make Payments to State Agencies
This initiative aims to enhance customer service and may expand to other departments in the future.
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.
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.
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.
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.
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