BETWEEN 2020 AND 2021, CRYPTOCURRENCY TRANSACTION VOLUME ROSE AN ESTIMATED 500
PERCENT – TO $15.8 TRILLION IN TRANSACTIONS. Given the increasing accessibility to and familiarity
with non-fiat currency, some states now allow citizens to pay for specific government fees or services
utilizing cryptocurrencies. First proposed in 2015 in New Hampshire, before taking off in 2018, states
have pursued myriad options to accept payment via virtual currencies. However, with recent drastic market value fluctuations and the FTX scandal, the number of legislative proposals in this regard appears to have decreased.