Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The new budget proposal also involves a blockchain pilot for vehicle registrations.
Florida Governor Ron DeSantis has officially proposed the state government to allow businesses to pay state fees with cryptocurrencies like Bitcoin (BTC).
The Republican governor announced the idea as part of his 2022ā2023 budget proposal,Ā released on Thursday.
According to the official budget highlights, DeSantis proposed to provide $200,000 to the Department of Financial Services to offer Florida corporations the ability to āpay state fees via cryptocurrency directly to the Department of State.ā
āFlorida encourages cryptocurrency as a means of commerce and furthering Floridaās attractiveness to businesses and economic growth,ā the document reads.
DeSantis additionally proposed allocating another $500,000 to explore the potential of blockchain technology to maintain motor vehicle records, authenticate Medicaid transactions and detect potential fraud.
The overall $700,000 proposal is dedicated to enabling a crypto-friendly Florida, the budget proposal reads.
Florida has been steadily emerging as a major cryptocurrency-friendly jurisdiction in the United States as one of its major cities, Miami, is being actively promoted as the āworld's Bitcoin and crypto capital.ā
Related: āāNavigating CityCoins: Miami citizens to earn Bitcoin despite the city not holding crypto
Last month, Miami Mayor Francis Suarez announced that he aimed to be the first U.S. lawmaker to accept part of his paycheck in Bitcoin. The official reportedly owns both BTC and Ether (ETH).
In September, Miamiās city commissioners voted to accept funds generated by the new MiamiCoin cryptocurrency, which was launched by the smart contracts protocol CityCoins in August. Having generated more than $21 million in yields as of mid-November, MiamiCoin will be available to all Miami residents in the form of a Bitcoin dividend, according to the city mayor.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.