Holly Kim, the Lake County treasurer who is running for re-election next year, received a $3 Litecoin donation toward her political campaign, making her the first Illinois political candidate to accept digital currencies.
The new cryptocurrency, which just kicked off last week, has generated nearly $1 million for the city. The creator of the new coin has said that using MiamiCoin could help incentivize civic engagement.
As discussions around cryptocurrencies increase, fintech innovators are looking to receive direction on how to launch new products more easily while lawmakers focus on risks and volatility.
With one of the region’s largest cryptocurrency mining facilities, a Bitcoin ATM operator and a bill that would allow special trusts to hold digital assets, the state could be a center of the growing fintech industry.