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Louisiana Considering Adopting Cryptocurrency

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Wed, 05/18/2022 - 16:07
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Alex Dovbnya
Louisiana could become a trailblazer in terms of cryptocurrency adoption in the U.S.
Louisiana Considering Adopting Cryptocurrency
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According to a report by The Daily Advertiser, a regional newspaper based in Lafayette, Louisiana, the 25th most populous U.S. state is in the process of creating a committee on cryptocurrency adoption.

Louisiana could start accepting payments in cryptocurrencies.

State Rep. Mark Wright introduced a resolution to set up the committee. After being approved by the House Appropriations Committee, it will have to pass the full house before heading to the Louisiana State Senate.

Wright also introduced a bill that would let politicians accept campaign contributions in cryptocurrencies.

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The Republican lawmaker argues that his state could become a trailblazer in the crypto space.

As reported by U.Today, the U.S. recently increased its share of the global Bitcoin mining hashrate. The country is also home to the majority of the top cryptocurrency companies, including Coinbase, Grayscale and Ripple.

While red states like Texas have been more open to embracing cryptocurrencies, some blue ones have already warmed up to the new technology.

Colorado's Democratic governor, Jared Polis, announced that his state would become the first in the country to allow customers to pay in cryptocurrencies.

Earlier this month, California Governor Gavin Newsom signed a cryptocurrency executive order for regulating the cryptocurrency industry.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.