Louisiana Becomes Latest U.S. State to Accept Bitcoin For Government Services

Louisiana has officially become the latest U.S. state to accept Bitcoin payments for government services.

State Treasurer John Fleming announced yesterday that citizens can now make payments using Bitcoin, Bitcoin Lightning Network, and USD Coin. The Louisiana Department of Wildlife and Fisheries processed the first cryptocurrency payment using Bitcoin’s Lightning Network.

LOUISIANA STATE GOVERNMENT ACCEPTS FIRST CRYPTOCURRENCY PAYMENThttps://t.co/C9NqQbpEyo

Louisiana State Treasurer, John Fleming, M.D. announces an innovative transition with state government's plan to accept cryptocurrency as a valid form of payment. pic.twitter.com/b9B0OK7Al9
— John Fleming, MD Louisiana State Treasurer (@LATreasury) September 18, 2024

Fleming described this development as a way to adapt to technological changes in the modern age. “In today’s digital age, government systems must evolve and embrace new technologies. By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services,” he said.

Cryptocurrency payments made to the state will be converted into U.S. dollars to protect the state from the volatility associated with digital currencies. Bead Pay, a provider specializing in cryptocurrency conversion, will manage this process.

The announcement states, “The State of Louisiana will not handle cryptocurrency.” This approach ensures that Louisiana’s financial transactions are processed similarly to credit or debit card payments, minimizing risk while allowing for secure transactions.

BREAKING: The State of Louisiana becomes the first in the nation to accept Bitcoin via the Lightning network.

The @LATreasury proudly announced the payment as well as their ability to accpet Bitcoin and USD stablecoins.

Thank you to @WrightLouisiana for your leadership. pic.twitter.com/pBCQn98T1j
— Dennis Porter (@Dennis_Porter_) September 18, 2024

Republican State Representative Mark Wright, who played a key role in pushing for the integration of cryptocurrency payments, expressed his support for the initiative. “I have been proud to author several bills related to digital assets and to Chair the State Treasurer’s task force in 2022. I’m excited to see Louisiana further expanding its payment options under Treasurer Fleming,” Wright said. Wright previously established a digital assets working group in 2022, which found that accepting cryptocurrency payments would be feasible for state services.

Louisiana Department of Wildlife and Fisheries Adopts Bitcoin

The Louisiana Department of Wildlife and Fisheries was the first state agency to adopt cryptocurrency payments. Secretary Madison Sheahan stated, “Offering our sportsmen more ways to interact with our department allows for us to enhance our customer service.” This system, developed in collaboration with Bead Pay and other local partners, is expected to expand to other departments in the future.

Louisiana’s new payment option shows the ongoing efforts to modernize state services while maintaining a balance between adopting innovative technologies and ensuring financial stability. The state has also prohibited the use of Central Bank Digital Currencies (CBDCs), though it has allowed other digital currencies like Bitcoin for public transactions.

It is important to know that Louisiana joins a list of states such as Ohio, Florida, Colorado, and Utah in the U.S. that accept crypto.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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