The U.S. state of Louisiana has announced that residents can now use bitcoin, bitcoin lightning, and USD Coin to pay for state services through private, secure crypto wallets. “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,” said Louisiana’s State Treasurer.

Louisiana Residents Can Pay for State Services With Crypto

Louisiana State Treasurer John Fleming announced on Tuesday “an innovative transition with state government’s plan to accept cryptocurrency as a valid form of payment, allowing the integration of digital currency into Louisiana’s public operations.” The announcement details:

Louisiana residents will now have the option to pay for state services from their private, secure crypto wallets. These popular types of cryptocurrencies will be accepted: bitcoin, bitcoin lightning, and USD coin.

The first cryptocurrency payment was made on Tuesday to the Louisiana Department of Wildlife and Fisheries.

The state, however, is not accepting cryptocurrency directly. To facilitate these payments, a service converts incoming cryptocurrency transactions into U.S. dollars, ensuring the state avoids handling cryptocurrencies directly. The announcement states: “A unique service converts incoming cryptocurrency payments, depositing U.S. dollar amounts into state government accounts like a credit or debit card transaction. This service protects the state from previous worries about accepting cryptocurrency and promotes the adoption of new technologies in the state’s infrastructure.” Louisiana’s collaboration with Bead Pay and local partners ensures the system runs smoothly.

“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. Additionally, this unique innovation protects our state from any volatility associated with cryptocurrency,” Fleming said.

“The integration of cryptocurrency payments into state agencies results from a collaborative effort between the State of Louisiana, Bead Pay, a specialist in cryptocurrency payments, and Louisiana-based integration partners,” the announcement further details.

This initiative comes after Louisiana State Representative Mark Wright’s advocacy for digital assets. Wright expressed excitement, stating:

Louisiana will continue to be a leader in accepting digital payments.

Secretary Madison Sheahan of the Louisiana Department of Wildlife and Fisheries also highlighted the benefits of this shift, emphasizing the enhanced service experience for sportsmen who interact with the department.

Source : Bitcoin News - Sep 20, 2024