The Southern Coastal US state of Louisiana is announcing that its services can now be paid for with crypto assets. According to a new press release, the government of Louisiana is collaborating with software firm Envoc and crypto payments platform Bead Pay to revolutionize how payments are made for the state’s services. Residents of Louisiana […]
The post Louisiana Announces That State Services Can Now Be Paid For With Crypto appeared first on The Daily Hodl.
Louisiana is now taking crypto payments for state services, and its Wildlife and Fisheries Department has just taken the government’s first crypto payment.
The government of Louisiana has taken its first-ever crypto payment after the state’s Treasurer announced residents would have the option to pay for state services with certain crypto.
Louisianians now have the option to use any crypto wallet to pay using Bitcoin (BTC), the Bitcoin Lightning Network, and the US dollar-pegged stablecoin USD Coin (USDC), Louisiana State Treasurer John Fleming said in a Sept. 17 statement.
The state’s first crypto payment has already gone through — for a fine going to the Louisiana Department of Wildlife and Fisheries through Bitcoin’s Lightning Network.
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing […]
Louisiana recently gave a shout out to Bitcoin’s success in a new resolution.
Bitcoin has gained increasing levels of adoption over the past several months amid its rise past $60,000. The government of the U.S. state of Louisiana recently released a resolution in which it noted some of Bitcoin’s (BTC) accomplishments.
“THEREFORE, BE IT RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution to economic security,” said House Resolution No. 33 from Rep. Mark Wright. According to an article from The Hill, the document was signed on Thursday.
The shout out to anonymous Bitcoin creator Satoshi Nakamoto came after the document gave BTC a pat on the back for its success in terms of adoption and market capitalization. The first lines of the resolution read:
“To commend Bitcoin for its success in becoming the first decentralized trillion dollar asset and to encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology.”
Bitcoin achieved a market cap greater than $1 trillion in early 2021. The milestone occurred following the asset’s break of its 2017 record high, which it tallied in late 2020.
The Louisiana document described a number of details around Bitcoin, including noting its prevalence, its decentralization and its usage. The resolution even pointed toward the asset as a gold alternative. “Bitcoin, which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only twenty-one million bitcoins allowed to be produced,” the document said.
Over the past year or so, a number of companies have bought into Bitcoin as an asset, leading to increased mainstream attention.
