The California State Legislature introduced a bill last week that would allow citizens to pay for government services with cryptocurrency.
Senate Bill #1275 was introduced by Democratic State Senator Sydney Kamlager on February 18. document States. “A state agency may accept cryptocurrencies as a payment method for the provision of government services.”
California has now joined the ranks of public and private institutions competing to allow payment for services and goods in cryptocurrencies. Late last year, Florida Governor Ron DeSantis unveiled a proposal that would allow companies to pay state fees in cryptocurrencies. He introduced the proposal as part of a series of others related to cryptocurrencies in the state's 2022 budget.
This came on the heels of fellow Florida politician, Miami Mayor Francis Suarez. A vocal proponent of Bitcoin and cryptocurrencies for some time, he said he would accept Bitcoin payment and was working to offer it as payment to government officials. This enthusiasm sparked a friendly rivalry with newly sworn in New York Mayor Eric Adams, who offered to take his first three months of Bitcoin payout.
In addition to government institutions exploring cryptocurrency payment options, nearly a quarter of small businesses across nine countries said they have plans to accept digital currencies as payment in 2022, according to a recent Visa survey. “I think more people are feeling more confident with cryptocurrency,” said Jeni Mundy, Global Head of Merchant Sales and Acquisition of Visa. Meanwhile, 13% of consumers in these countries said they expect more retail stores to accept cryptocurrencies this year. Cryptocurrency payments for real estate are also taking off, according to Upnest.com, while ride-sharing app Uber is also “absolutely” planning to offer cryptocurrency payments this year.
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