cryptoknowmics.com
Florida governor Ron DeSantis proposed letting businesses pay state fees with cryptocurrencies.
The Republican governor announced the idea in his 2022-23 budget proposal released Thursday. In his "Freedom First Budget," DeSantis proposed sending $200,000 to the state's financial services department to enable it to accept bitcoin as payment for state fees from Florida businesses.
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."
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.
On top of that, a cryptocurrency named "MiamiCoin" has also been introduced with the aim of earning enough revenue to replace the income from taxes.