Mississippi First in Nation to Accept Cryptocurrency, Venmo for College Savings
JACKSON, Miss. – Mississippi families can now utilize cryptocurrency and Venmo to contribute to the state’s 529 college savings plan, a first-in-the-nation move championed by State Treasurer David McRae. The Mississippi Affordable College Savings plan now accepts these digital payment methods alongside conventional funding options.
“Mississippians don’t need government telling them how to save. They just need government to get out of the way,” McRae said. “As one of the first in the nation letting residents invest in their child’s future using crypto and Venmo, along with traditional funding sources, we’re cutting red tape and bringing a little innovation to a system that’s been stuck in the past.”
The Mississippi Affordable College Savings plan is a tax-advantaged savings vehicle designed to help families cover qualified education expenses, including K-12 tuition, college costs, school supplies, and job training programs for postsecondary education.
More information on the program and how to contribute can be found at the State treasury’s office.
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