Florida Governor Releases Budget Proposal With Effort To Create Crypto-Friendly State

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Florida Governor Ron DeSantis is including provisions to promote the use of blockchain and crypto assets into 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 aimed at creating a “crypto-friendly” state.

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

“$200,000 for the Department of Financial Services to offer Florida corporations the ability to pay state fees via cryptocurrency directly to the Department of State. Florida encourages cryptocurrency as a means of commerce and furthering Florida’s attractiveness to businesses and economic growth.”

The proposal also calls for two separate pilot programs utilizing blockchain technology: one to evaluate the possibilities of making available motor vehicle certifications and another to certify Medicaid transactions and counter healthcare fraud.

“$250,000 to support a Blockchain Title Pilot Program within the Department of Highway Safety and Motor Vehicles. The purpose of the pilot program is to evaluate potential concepts, designs, and technologies to maintain and make available certificates of motor vehicle title through blockchain technology.

$250,000 for Florida’s Agency for Health Care Administration to implement a pilot project using blockchain technology to authenticate Medicaid transactions and identify potential Medicaid fraud.”

Other Floridian politicians have also been spearheading crypto adoption. Miami Mayor Francis Suarez has already created a slew of state programs based on crypto assets, including accepting Bitcoin (BTC) for tax payments and embracing MiamiCoin, the city’s very own crypto token.

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Shutterstock/Titima Ongkantong/Vladimir Sazonov

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