Republican House leader Derek Merrin introduced a new cryptocurrency bill in Ohio aimed at creating a Bitcoin fund within the state's treasury.
The Ohio Bitcoin Reserve Act
Introduced in December 2024, the Ohio Bitcoin Reserve Act is designed to authorize the state treasurer to purchase Bitcoin as part of Ohio's asset allocation strategy.
Bill's Provisions and Potential Impact
The bill amends sections of Ohio’s Revised Code to create a dedicated Bitcoin fund. It provides the State Treasurer with discretionary power without mandating Bitcoin purchases.
A Growing Trend Across the U.S.
Ohio’s push to establish a Bitcoin fund is part of a larger movement, with other states such as Pennsylvania and Texas proposing similar legislation in late 2024.
If passed, the bill could include Bitcoin in Ohio's treasury as an alternative asset class, promoting long-term financial stability and boosting the legitimacy of digital assets.
