Florida Governor to Allow Business to Pay State Tax in Cryptocurrency

The state's 2022 budget also includes proposals to launch pilot programs to study the use ofblockchain in medicine and when registering a vehicle.

Florida Governor Ron DeSantis presented a plan,which will allow state enterprises to pay state fees in cryptocurrency. Proposals related to cryptocurrency, the official included them in the state budget for 2022, according to Bloomberg.

DeSantis also said the state will launchpilot programs to study the use of blockchain technology in payments under the Medicaid program (state program of medical assistance to those in need) and in the registration of vehicles. The latter will be hosted by the Florida Department of Highway and Motor Vehicle Safety.

The governor said that crypto enthusiastsmoving to South Florida, where officials and business representatives supported the blockchain industry. For example, the Miami Heat basketball stadium was renamed FTX Arena. FTX is a crypto exchange owned by billionaire Sam Bankman-Fried.

Florida is not the first state to think aboutthe use of cryptocurrencies. Wyoming legislators plan to use blockchain to increase transparency and accountability in the way public funds are spent. In 2018, Ohio became the first state to allow taxes on digital assets, but the program was suspended a year later due to concerns that it was substandard.

</p></p>