Florida governor’s budget proposal wants to let residents pay fees in crypto

The new budget inspiration additionally involves a blockchain pilot for vehicle registrations.

Florida Governor Ron DeSantis has officially proposed the state authorities to permit organizations to pay state fees with cryptocurrencies like Bitcoin (BTC).
The Republican governor announced the thought as section of his 2022–2023 price range proposal, launched on Dec. 9.
According to the legit price range highlights, DeSantis proposed to provide $200,000 to the Department of Financial Services to provide Florida corporations the capability to “pay state fees by way of cryptocurrency immediately to the Department of State.”
“Florida encourages cryptocurrency as a capacity of commerce and furthering Florida’s attractiveness to businesses and financial growth,” the document reads.
DeSantis moreover proposed allocating some other $500,000 to discover the potential of blockchain science to hold motor automobile records as nicely as authenticate Medicaid transactions and become aware of viable fraud.
The average $700,000 notion is dedicated to enable a crypto-friendly Florida, the budget proposal reads.
Florida has been gradually emerging as a fundamental cryptocurrency-friendly jurisdiction in the United States as one of its fundamental cities, Miami, is being actively promoted as the “world’s Bitcoin and crypto capital.”
Last month, Miami Mayor Francis Suarez introduced that he aimed to be the first U.S. lawmaker to accept section of his paycheck in Bitcoin. The respectable reportedly owns each BTC and Ether (ETH).
In September, Miami’s metropolis commissioners voted to be given funds generated by the new MiamiCoin cryptocurrency, which used to be launched via the smart contracts protocol CityCoins in August. Having generated greater than $21 million in yields as of mid-November, MiamiCoin will be available to all Miami residents in the structure of a Bitcoin dividend, in accordance to the metropolis mayor.


Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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