Series Pt. 3: Want to Pay in Cryptocurrency? In Louisiana, Now You Can.
In a move toward modern financial practices, Louisiana residents can now pay for state services using cryptocurrency.\xa0\n\u201cLouisiana has always, I think, lagged behind other states when it comes to doing things that are in modern commerce,\u201d Louisiana state Treasurer John Fleming says, adding that he hopes to change that.\xa0\nCryptocurrency is \u201cgoing to have a huge role\u201d in the future of finance, Fleming says.\nSometimes referred to as digital currency, cryptocurrency does not require a bank account. Louisiana is now accepting bitcoin, bitcoin lightning, and USD coin payments. The first cryptocurrency payment was made to the Louisiana Department of Wildlife and Fisheries on Sept. 17. The digital currency payments are converted into dollars following the transaction,\xa0Fleming explains.\nThe Louisiana treasurer joins \u201cThe Daily Signal Podcast\u201d for the third installment of the show\u2019s money and transparency series.\xa0\nIn addition to explaining why the state is now accepting cryptocurrency payments, Fleming discusses his efforts to eliminate the Louisiana state income tax.