The Ohio House has passed a bill that exempts capital gains tax for Bitcoin transactions up to $200. This step reinforces the level of digital asset adoption in the state.
Ohio Legislation on Bitcoin
The Ohio House of Representatives approved **House Bill 116**, focusing on exempting capital gains tax for Bitcoin transactions under $200. This step emphasizes Ohio's ambition to be a leader in digital asset adoption, as noted by Representative **Steve Demetriou**, who referred to the voting day as a "historic milestone" for the state.
Reactions and Consequences of the Bill's Passage
The legislation was passed with **unanimous support**, demonstrating a bipartisan commitment to fostering blockchain innovation. The passing of the bill has drawn [national attention](https://news.shib.io/2025/06/18/ohio-bitcoin-rights-bill-passes-committee-boosting-crypto-growth/), with expectations that eliminating tax barriers will encourage increased use of digital currencies, especially for small-scale payments.
Future of Digital Assets in Ohio
Experts anticipate significant financial and technological outcomes from the bill, predicting that other states may adopt similar frameworks. This move could accelerate broader adoption trends of digital assets and influence future regulatory frameworks at both state and federal levels.
The passing of the Bitcoin tax exemption bill is a crucial step for Ohio in stimulating innovation and easing conditions for businesses in the digital asset space.
