Ohio has introduced a bill aimed at protecting digital asset rights and preventing additional taxes on cryptocurrency payments.
Key Provisions of the Bill
The bill, introduced on February 24, safeguards activities such as self-custody, mining, and staking, while exempting certain crypto transactions from money transmission licensing. It protects digital asset rights by prohibiting extra taxes, fees, or charges on digital assets used for payments, ensuring equal treatment with traditional transactions.
Support for Cryptocurrency Adoption
The bill promotes cryptocurrency adoption by prohibiting state agencies from restricting the use of digital assets as payment. It allows residential crypto mining under local ordinances and prevents selective zoning changes that could harm mining businesses in industrial zones.
Georgia's Initiative
Georgia introduced a second Bitcoin reserve bill granting the state treasurer unlimited authority to invest in Bitcoin. This aggressive proposal is supported by Republican lawmakers, unlike the previous one.
The adoption of new legislative initiatives indicates the growing importance and recognition of cryptocurrencies at the state level in the US.
