Louisiana : 2024 Treasurer Pay Governmental Now
The Louisiana Treasurer says cryptocurrencies can be used to pay for governmental services.
This Thursday, state treasurer John Fleming declared that the state of Louisiana could now take cryptocurrency payments.
Customers will be able to use USD Coin, Bitcoin Lightning, and Bitcoin to make payments from safe cryptocurrency wallets.
The software the state uses for cryptocurrency transactions, called Bead Pay, transforms cryptocurrencies, or digital money, into US dollars that the state can handle.
“This service encourages the adoption of new technologies in the state’s infrastructure and shields the state from prior concerns about taking cryptocurrency,” the announcement read.
Among those worries were fraudulent transactions, the volatility of cryptocurrency prices, and the state’s direct handling of cryptocurrencies—none of which have anything to do with the Bead Pay arrangement.
According to Fleming’s announcement, the first cryptocurrency payment was made to the Louisiana Department of Wildlife and Fisheries on Tuesday.
Louisiana Administrative Code 2024 Treasurer Pay
LouisianaMadison Sheahan, secretary of the LDWF, stated, “This is another step toward our goal of creating a modern and professional organization that better serves the sportsmen of the state.”
The only state agency that takes cryptocurrency payments at the moment is LDWF, but according to Fleming spokesperson Jeff Cohere, it is available “for any department that wishes to utilize this option.”
In 2022, state representative Mark Wright, R-Covington, proposed a bill that established a “digital assets working group” to investigate the usage of cryptocurrency in state government, which sparked a renewed push to have the state accept cryptocurrency payments.
That study group’s final recommendation from last year was that cryptocurrencies be accepted as a means of payment.
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