US airlines will begin accepting bitcoin, the digital currency that has gained popularity for its low cost and speed.
The Federal Aviation Administration announced the change Thursday, saying it will allow bitcoin payment to be accepted by passengers on all flights that fly over U.S. airspace.
The change, which was announced by FAA administrator Michael Huerta, follows a recent announcement by the National Oceanic and Atmospheric Administration that it was adding bitcoin to its list of payment options.
The decision came in the wake of a recent surge in bitcoin use in the U.K., where it is used to purchase things from businesses.
Bitcoin was first adopted in 2009 by a group of developers who were inspired by the popularity of the popular cryptocurrency Bitcoin Cash, which gained popularity after the cryptocurrency’s price was artificially inflated.
Huertas statement is an acknowledgment that bitcoin is becoming more popular and that more airlines are taking steps to accept it.
“This is a welcome development that will help our businesses offer more efficient, affordable and secure travel,” said Paul Johnson, president of Johnson Aviation in the UK.
“The adoption of bitcoin by airlines will make it easier for businesses and travelers to safely and securely purchase goods and services from the U,S.
Johnson said that the airline industry is expected to increase the number of international flights it takes over the next few years.
Johnson said his company plans to accept bitcoin as a payment option on flights from the United States to Japan and South Korea.
Johnson said he expects the airline to accept the cryptocurrency in the next year.
Johnson told the Associated Press that the new rules were in line with what he expected the airline would do in the future.
“I expect the airlines to continue to offer the most cost-effective, high-quality travel to our customers,” he said.
The announcement comes just a few weeks after the Federal Reserve and the Bank of England both announced that they were making it easier to accept payments in digital currencies.
The Reserve said it will now allow banks to accept payment in bitcoin, adding that it would also allow people to send their money to banks and other institutions via electronic means.
The British government, however, said that bitcoin was a potential threat to the integrity of financial systems and the ability to safeguard financial transactions.