Florida Gov. Ron DeSantis has proposed that the state government begin to accept cryptocurrencies such as Bitcoin (CRYPTO: BTC) as means of payment for state fees.
What Happened: DeSantis announced the idea as part of the 2022–2023 budget proposal that he released on Dec 9. He proposed to provide a budget of $200,000 to the Department of Financial Services to create a system allowing Florida corporations to “pay state fees via cryptocurrency directly to the Department of State.”
See Also: IS CRYPTOCURRENCY A GOOD INVESTMENT?
The document reads that “Florida encourages cryptocurrency as a means of commerce and furthering Florida’s attractiveness to businesses and economic growth.”
DeSantis also proposed to allocate a further $500,000 to examine the potential of blockchain technology when applied to motor vehicle records as well as authenticating Medicaid transactions to detect fraud.
The proposal — costing $700,000 in total — is meant to make Florida a crypto-friendly state and follows Miami announcing its MiamiCoin token and the city’s mayor taking a paycheck in Bitcoin.
