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The southeastern U.S. state of Louisiana has processed its inaugural cryptocurrency payment for government services. This transaction utilized the Lightning Network, which is Bitcoin’s layer 2 protocol.
Residents of Louisiana have officially been granted the capability to pay for state services using cryptocurrency. On September 17, State Treasurer John Fleming revealed that the first crypto payment was made by a local citizen to resolve a fine with the Louisiana Department of Wildlife and Fisheries. This transaction was facilitated through the Lightning Network protocol.
Fleming highlighted that the cryptocurrency payment was converted into U.S. dollars and deposited into the state account via a specialized service, enabling residents to utilize crypto wallets similarly to credit or debit cards. For government services, state residents can utilize Bitcoin (BTC) and the USD Coin (USDC) stablecoin.
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This advancement is made feasible through a collaboration between local authorities and Bead Pay, a provider of digital payment solutions, along with various local financial institutions. Fleming noted that Bead Pay is instrumental in ensuring the security and adaptability of crypto payments. The state treasurer also indicated that Louisiana officials will not retain cryptocurrency in their accounts — all crypto payments from residents will be converted to fiat currency upon receipt before being credited to state accounts.
The state’s forward-thinking approach is evident in its willingness to embrace new technologies. In June of this year, the Louisiana government enacted amendments to local laws, permitting payments with digital assets while prohibiting the development, testing, and implementation of a central bank digital currency (CBDC).
Concerns among Americans regarding the introduction of CBDCs in the nation have been voiced, a sentiment echoed by some local officials as well.
Сообщение Louisiana Residents to Pay for State Services with Crypto появились сначала на CoinsPaid Media.
