The Louisiana state government has just allowed residents to pay for public services with cryptocurrency, and has accepted the first payment in Bitcoin via the Lightning Network.
Louisiana Accepts Cryptocurrency Payments
The Louisiana state government recently made its first cryptocurrency payment after the state’s Secretary of Finance announced that residents will be able to pay for public services with certain cryptocurrencies.
Louisiana residents can now use any cryptocurrency wallet to pay with Bitcoin via the Lightning Network or the stablecoin USD Coin (USDC), according to a statement from Louisiana Secretary of the Treasury John Fleming on September 17. The state’s first cryptocurrency payment has been successfully completed, a fine paid to the Louisiana Department of Wildlife and Fisheries via Bitcoin’s Lightning Network.
Fleming said Louisiana’s acceptance of cryptocurrency payments is the result of a collaboration between the state, Bead Pay, and integration partners in the state, which he believes will “minimize the number of fraudulent transactions.” He said:
“In today’s digital age, government systems need to evolve and adopt new technology. Introducing cryptocurrency as a payment option is not only innovative but also provides citizens with flexibility and freedom in interacting with public services.”
Fleming was also quick to clarify that the money the government receives will still be in fiat currency, as the service will convert cryptocurrency payments into US dollars, helping “protect the state from previous concerns about accepting cryptocurrency.”
Louisiana's action receives positive feedback
Republican Congressman Mark Wright – who has been pushing for the state to accept cryptocurrency – said he was “pleased to see Louisiana further expanding its payment options.”
In May 2022, Wright founded a group on digital assets, which concluded that cryptocurrencies are a method of payment that should be accepted.
Wright also led a 2021 Louisiana House resolution honoring Satoshi Nakamoto, the anonymous inventor of Bitcoin, for “contributions to economic security.”
In June, Louisiana amended its laws to ban central bank-issued digital currencies (CBDCs) and establish rules for cryptocurrency Miners and node operators. The law prohibits the state from testing, accepting, or demanding payments in CBDCs, but does not prohibit other forms of digital currency payments.
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