Republican

Satoshi

Satoshi Nakamoto

Bitcoin

Coin

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 (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>), the Bitcoin Lightning Network, and the US dollar-pegged <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="noopener noreferrer nofollow" target="null" text="null" title="null">stablecoin</a> USD Coin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">USDC</a>), Louisiana State Treasurer John Fleming <a data-ct-non-breakable="null" href="https://www.treasury.la.gov/_files/ugd/92c97e_ee5334e5115b4bada9445f8c345665ed.pdf" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> in a Sept. 17 statement.&nbsp;
The state’s first <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-is-used-https://cointelegraph.com/magazine/crypto-is-used-for-payments-in-georgia-not-to-get-rich-tbilisi-crypto-city-guide/for-payments-in-georgia-not-to-get-rich-tbilisi-crypto-city-guide/" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/magazine/crypto-is-used-https://cointelegraph.com/magazine/crypto-is-used-for-payments-in-georgia-not-to-get-rich-tbilisi-crypto-city-guide/for-payments-in-georgia-not-to-get-rich-tbilisi-crypto-city-guide/">crypto payment</a> has already gone through — for a fine going to the Louisiana Department of Wildlife and Fisheries through Bitcoin’s Lightning Network.
<figure><img alt="Louisiana takes first crypto payment over Bitcoin Lightning" name="" src="https://s3.cointelegraph.com/uploads/2024-09/019207d8-6ba6-7543-8504-362597030940">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/LATreasury/status/1836492067289354412" rel="noopener noreferrer nofollow" target="null" text="null" title="https://x.com/LATreasury/status/1836492067289354412">John Fleming</a>
 </figcaption>
</figure>
Fleming said Louisiana’s acceptance of crypto payments results from a collaboration between the state, Bead Pay, and integration partners based in the state, which he says would result in a “decrease in the number of fraudulent transactions.”
“In today’s digital age, government systems must evolve and embrace new technologies,” he said.&nbsp;
<blockquote>
 “By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services.”
</blockquote>
Fleming was quick to note that the money received by the government will still be in fiat, as the service converts the crypto payments into US dollars, adding it “protects the state from previous worries about accepting cryptocurrency.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/north-carolina-cbdc-ban-law-us" rel="noopener noreferrer nofollow" target="null" text="null" title="null">North Carolina resists the CBDC tide with new payments ban</a>
Republican State Representative Mark Wright — who spearheaded the effort for the state to accept crypto — said he was “excited to see Louisiana further expanding its payment options,”
In May 2022, Wright set up a digital assets working group, which found early last year that crypto would be an acceptable form of payment.
Wright also led a 2021 Louisiana <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/governing-body-of-louisiana-gives-bitcoin-its-nod-of-approval" rel="noopener noreferrer nofollow" target="null" text="null" title="null">House resolution</a> that commended anonymous Bitcoin inventor <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/who-is-satoshi-nakamoto-the-creator-of-bitcoin" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Satoshi Nakamoto</a> for their “contribution to economic security.”
In June, Louisiana <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/louisiana-crypto-law-protects-node-operators-bans-cbdc" rel="noopener noreferrer nofollow" target="null" text="null" title="null">amended legislation</a> to ban central bank digital currencies (CBDCs) and set rules for crypto miners and node operators.&nbsp;
The law bans the state from taking part in tests for, accepting, or requiring payments that use a CBDC, but did not ban other digital currency payments.
Big Questions: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/big-questions-can-bitcoin-payments-make-a-comeback/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">How can Bitcoin payments stage a comeback?</a>

Louisiana takes first crypto payment over Bitcoin Lightning

Cointelegraph

Other articles published on Sep 19, 2024

FTX/Alameda Wallet Unstakes $24M SOL Amid Ongoing Investigations: Report

Breaking Insights from Token2049: Monad’s Vision for the Future of Blockchain Scalability

Hut 8 deepens Bitmain partnership with launch of new ASIC miner in 2025

Solana Unveils ‘Seeker’: Next-Gen Web3 Mobile Device, SOL Price Surges

Breaking News: Another Altcoin Allegedly Drained User Wallets After BANANA

$24.37 Million in ETH to Be Sold by ICO-Era Ethereum Whale

Join our free newsletter for daily crypto updates!