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.
The government of Louisiana has officially announced that it will begin accepting payments in Bitcoin and other cryptocurrencies.
This marks a significant step forward in the adoption of digital assets by state governments in the United States.
The announcement was made by Louisiana State Treasurer John Fleming, M.D., who stated that the state government has accepted its first cryptocurrency payment.
Fleming highlighted the innovative transition that is underway as the state government integrates cryptocurrency into its payment infrastructure.
This integration will allow residents to pay for state services directly from their non-custodial crypto wallets, using BTC (both on the Bitcoin layer-1 and via Lightning Network) and USDC (USD Coin).
The first crypto payment was made to the state’s Department of Wildlife and Fisheries.
To facilitate this initiative, the government has partnered with a service called Bead Pay, which converts the crypto into dollars before depositing them into government accounts.
This ensures that the citizen pays in cryptocurrencies, but the state receives dollars, as if the payment had been made with a credit or debit card.
The aim is to promote the adoption of new technologies in the state’s infrastructure while protecting the state from the value fluctuations of crypto.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
Other articles published on Sep 20, 2024
-
- BlockDAG Network: Currently the Talk of the Crypto World
-
Sep 20, 2024 at 04:25 am
- BlockDAG is quickly proving to be more than just your standard layer 1 network. Thanks to its innovative DAG-based technology, it’s outstripping
-
- Memebet Token ($MEMEBET) Presale Skyrockets as the Project Prepares for Exchange Launch and Airdrop
-
Sep 20, 2024 at 04:25 am
- The final week of September offers the last chance to participate in several major crypto airdrops, including Hamster Kombat, Catizen and Memebet Token, before the end of the month.
-
- Bitcoin Dogs Could be the Crypto World’s Best-Kept Secret
-
Sep 20, 2024 at 04:25 am
- As the first-ever ICO on the Bitcoin network, this underdog has already made history. Everyone is making huge bets on BTC mooning during this cycle.
-
- GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations
-
Sep 20, 2024 at 04:25 am
- GameStop (GME) CEO Ryan Cohen has settled with the Federal Trade Commission (FTC) over antitrust violations.
-
- COIN to Perform at Byline Bank Aragon Ballroom in Celebration of New Album
-
Sep 20, 2024 at 04:25 am
- Nashville-based band COIN consists of Chase Lawrence on lead vocals, Ryan Winnen on drums, and Joe Memmel on lead guitar. The members were introduced to each other in college in their music theory class.
-
- Bitcoin (BTC) Market Top Identification Guide By IonicXBT
-
Sep 20, 2024 at 04:25 am
- As the crypto market gears up for a potential bull run in 2025, analyst IonicXBT has shared his comprehensive guide on how to identify the Bitcoin market top in this cycle.
-
- Beam (BEAM) and Mpeppe (MPEPE) Emerge as Market Contenders, Captivating Investors and Crypto Enthusiasts
-
Sep 20, 2024 at 04:25 am
- The cryptocurrency market is always in flux, with tokens rising and falling in value at rapid speeds. Beam (BEAM) has recently shown strong upward momentum
-
- Beam (BEAM) and Mpeppe (MPEPE) Are Set to Explode in 2024, Offering Investors the Chance to Make 300x Profits
-
Sep 20, 2024 at 04:25 am
- The world of cryptocurrency is constantly evolving, with new tokens and opportunities for massive gains emerging regularly. Recently, a top crypto trader has made headlines by leveraging both Beam (BEAM) and Mpeppe (MPEPE) to achieve significant profits.
-
- Nervos Network (CKB) Bulls Discover Mpeppe (MPEPE), a Gambling Token with Explosive Growth Potential
-
Sep 20, 2024 at 04:25 am
- In the fast-paced world of cryptocurrency, finding the next big opportunity is key to staying ahead of the curve. Nervos Network (CKB) has long been a favorite among investors