Louisiana Announces State Services Can Now Be Paid With Cryptocurrencies

The state of Louisiana, on the southern coast of the United States, announces that its services can now be paid for with crypto assets.

According to a new press release, the Louisiana government is partnering with software company Envoc and crypto payment platform Bead Pay to revolutionize the way payments are made for state services.

Louisiana residents can now start using digital assets and crypto wallets to pay for state services starting in early September, though no specific date has been given.

The project allows citizens to convert cryptocurrencies into US dollars in real time to address concerns about the volatility of digital asset prices, as the government would receive payments in fiat currency. Additionally, transactions would be faster, safer and more flexible.

According to Louisiana Treasurer John Fleming, digital assets that will be accepted include the leading crypto asset by market cap, Bitcoin (BTC), Bitcoin Lightning, and the popular stablecoin USDC.

Fleming says:

“In the digital age, government systems must evolve and embrace new technologies. By introducing cryptocurrency as a means of payment, we are not only innovating; we are providing our citizens with flexibility and freedom to interact with government services. Moreover, this unique innovation protects our state from any volatility associated with cryptocurrency,”

The first state agency expected to implement the crypto payment system will be the Department of Forest Fire and Fisheries. According to Fleming, the first payment to the department has already been made.

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