Is it time for another state to join the crypto club? Cryptocurrency transactions are being accepted by several countries and unicorns. Ron DeSantis is pushing Florida state agencies to accept cryptocurrency from businesses for taxes. This article covers how he is also looking for the government to incorporate blockchain technology to optimize its functions.
Several politicians in Florida have declared their support for digital currencies, such as Miami Mayor Francis Suarez, who has been very vocal about supporting bitcoin. In addition to receiving a portion of his salary in BTC, he recently announced that he plans to convert a portion of his 401(k) plan into bitcoin.
According to Fortune, DeSantis has explained previously that he wants Florida to become a “crypto-friendly” state. “Florida encourages cryptocurrency as a means of commerce and as a means of enhancing Florida’s appeal to businesses and economic growth,” DeSantis wrote in the state’s budget proposal for 2022-23.
In a discussion during the signing of the Financial Literacy Bill, the governor said that he had instructed the state agencies to find ways to allow businesses to pay taxes in cryptocurrency.
In addition, he mentioned that they are gearing up to accept virtual currencies as a mode of payment. Furthermore, to push crypto into the mainstream, he added a provision in his budget proposal that would have allowed funds for the experimentation of Blockchain. Had this been passed by the legislature, it would have led to the optimization of the functions of the state.
However, DeSantis has also expressed his concerns about state-controlled digital currency issuance. He is not entirely in favor of Biden’s executive order. The governor said, “I worry about the amount of power that would give someone in a central authority to basically be able to shut off access to purchasing certain goods,” he said. “We’d be in uncharted territory.”
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