In his budget proposal, Florida Governor Ron DeSantis advocated allowing businesses to pay state fees with cryptocurrency. He also advised looking at how blockchain technology may be used for things like auto titles and Medicaid payments.
The notion was proposed by the Republican governor in his budget proposal for 2022-23, which was released on Thursday. DeSantis proposed spending $200,000 to provide the state’s financial services department the authority to take state fees from Florida firms in cryptocurrencies in his “Freedom First Budget.”
He also recommended funding another $500,000 to research the use of blockchain technology to keep and provide motor vehicle titles, as well as to validate Medicaid transactions and detect fraud.
According to a Fortune report, DeSantis stated that he wants the state government to be “crypto friendly.”
“Florida encourages cryptocurrency as a means of commerce and furthering Florida’s attractiveness to businesses and economic growth,” he wrote in the proposal.
The state of Florida, notably Miami, has become a crypto hotspot. This year’s major bitcoin convention was held in Miami, whose mayor, Francis Suarez, has now agreed to accept bitcoin as payment.
As companies like FTX, eToro, and Blockchain.com, among others, have established their foothold in Miami, the city is swiftly becoming the Wall Street for crypto entrepreneurs.
The Miami Heat’s stadium has been renamed FTX Arena, while Blockchain.com has relocated its headquarters from New York to Miami.
Furthermore, a cryptocurrency known as “MiamiCoin” has been launched in the aim of earning enough revenue to replace tax revenue.
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