Louisiana First State to Accept Bitcoin and Crypto via Lightning Network for State Services

Sep 18, 2024, 10:29 PM

The State of Louisiana has become the first in the United States to officially accept Bitcoin and other cryptocurrencies as valid forms of payment for state services. This initiative includes the use of the Lightning Network and USD stablecoins. The Louisiana Treasury Department announced the acceptance of crypto payments, with the first transaction being a hunting license purchased using Bitcoin. This move is part of a broader push by Governor Jeff Landry towards establishing a Bitcoin Strategic Reserve in the state. Additionally, Louisiana has enacted House Bill 488, which defends the rights of Bitcoin holders and bans the creation of a central bank digital currency (CBDC). State Treasurer John Fleming, M.D., emphasized that this step provides citizens with more flexibility and freedom in their payment options. The announcement also predicts that the value of the crypto market will 3x to $7.5 trillion by 2028.