CandleFocus No, Louisiana is not accepting crypto for tax payments
2024-09-19
Author: Content Editor
The news claims that the state of Louisiana announced its acceptance of cryptocurrency for tax payments. However, a fact-check reveals that this is not true. The Louisiana Department of Wildlife and Fisheries did accept bitcoin, but it was facilitated by a point-of-sale provider called Bead Pay, which converted the bitcoin into US dollars and then deposited them into a state government bank account. Louisiana did not accept any cryptocurrency directly and only received USD. This follows a pattern of fake news announcements about US states accepting cryptocurrency for taxes, with a prior announcement about California also being debunked.
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