The governor of Florida is Ron DeSantis. The images are courtesy of Paul Hennessy/SOPA Images.
The images are courtesy of Paul Hennessy/SOPA Images.
Businesses in Florida could pay state fees with cryptocurrencies.
The idea was announced in the budget proposal. The state's financial services department was suggested to receive $200,000 in the "Freedom First Budget" to allow them to accept fees from Florida corporations in cryptocurrencies.
He wants to use $500,000 to explore the use of a new technology called the "blockchain" to maintain and provide motor vehicle titles and to identify potential fraud. According to a report from Fortune, the state government is hoping to be "crypto friendly."
He wrote in the proposal that Florida encourages the use of cryptocurrencies as a means of commerce.
Miami has become a hub for cryptocurrencies. The mayor of Miami, Francis Suarez, has agreed to take his paycheck in digital currency.
Miami is quickly becoming the Wall Street for the industry, as businesses like FTX, eToro, and Blockchain.com have expanded their footprint in the city. The Miami Heat's stadium was recently renamed to FTX Arena and the headquarters of the company moved from New York to Miami.
The goal is to replace income from taxes with enough revenue to do so.
Business Insider has an original article.
