California is now allowing its citizens to cover the cost of government services with crypto. The bill, which was sponsored by Democratic Senator Sydney Kamlager-Dove, was approved on February 18.
Likely to come under this banner are items such as education, public health and emergency services.
The legislation reads as follows:
- Existing law establishes state agencies for various purposes, including to provide certain services to the public for which payment is required.
- This bill would authorise a state agency to accept cryptocurrency as a method of payment for the provision of government services.
California the Fourth US State to Accept Crypto
The bill is not the first of its kind in the US, with similar legislation filed in Wyoming, Colorado and Arizona. The implications, however, are being met with some confusion on social media:
Crypto Acceptance Spreads
A survey conducted by Visa in early 2022 found that 24 percent of businesses across nine countries have plans to accept crypto this year. Many of those surveyed agreed that adopting more digital payment options was key for future growth.
Crypto acceptance is also spreading among e-commerce sites, with Shopify merchants now accepting payments through Binance. Any transactions made through the platform will be instantaneous.
By Lauren Claxton, Crypto News Guest Author
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