Louisiana has made history by becoming the first state in the USA to accept cryptocurrency payments. Residents can now pay for some state services using Bitcoin, Bitcoin Lightning Network, and USD Coin.
First Steps
The first payment using the Lightning Network was made to the Louisiana Department of Wildlife and Fisheries. Developed in partnership with Bead Pay and local partners, this initiative aims to reduce fraudulent transactions and offer more freedom to citizens.
Treasurer's Comment
State Treasurer John Fleming highlighted the importance of adopting new technologies in the digital age.
Legislative Changes
Republican State Representative Mark Wright, who spearheaded this effort, expressed interest in expanding payment methods. In 2022, he established a digital assets working group that found cryptocurrency payments viable. Louisiana has also amended its laws to prohibit the use of CBDCs but allows other digital currencies for payments.
Louisiana’s move to accept cryptocurrency payments represents a significant step towards technological innovation and financial freedom for its citizens.
Comments