Florida Governor Releases Budget Proposal to Create Crypto-Friendly State

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Florida Governor Ron DeSantis includes provisions to promote the use of blockchain and crypto assets in the Sunshine State’s latest budget proposal.

DeSantis recently proposed the Freedom First Budget for fiscal year 2022-2023, which includes $ 700,000 in programs to create a “cryptocurrency-friendly” state.

The budget includes three programs involving digital assets. One of the provisions allocates funds to the Florida Department of Financial Services to encourage the use of crypto assets in the state.

“$ 200,000 for the Department of Financial Services to provide Florida businesses with the ability to pay state fees through cryptocurrency directly to the Department of State.” Florida promotes cryptocurrency as a medium of commerce and makes Florida more attractive for business and economic growth. “

The proposal also calls for two separate pilot programs using blockchain technology: one to assess the possibilities of making motor vehicle certifications available and the other to certify Medicaid transactions and combat healthcare fraud. health.

“$ 250,000 to support a pilot blockchain titles program within the Ministry of Road and Motor Vehicle Safety.” The objective of the pilot program is to assess potential concepts, designs and technologies for maintaining and making available motor vehicle title certificates through blockchain technology.

$ 250,000 to the Florida Agency for Healthcare Administration to implement a pilot project using blockchain technology to authenticate Medicaid transactions and identify potential Medicaid frauds.

Other Florida politicians have also spearheaded the adoption of crypto. Miami Mayor Francis Suarez has already created a host of state programs based on crypto assets, including accepting Bitcoin (BTC) for tax payments and adopting MiamiCoin, the city’s own crypto token.

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Shutterstock / Titima Ongkantong / Vladimir Sazonov

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