• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ohio Might Legalize Crypto Tax Payments

user avatar

by Giorgi Kostiuk

a year ago

Ohio State Senator Niraj Antani, who represents the state's sixth district, recently introduced a bill that aims to make it possible to pay taxes with crypto.

Senator Antani's Initiative

Senator Antani argues that his bill is meant to boost free enterprise and promote innovation. If the bill passes, government bodies would have to accept Bitcoin and alternative cryptocurrencies.

History of Crypto Acceptance in Ohio

Ohio became the first US state to start accepting Bitcoin tax payments back in November 2018. The payment system, powered by the popular cryptocurrency payment processor BitPay, converted crypto to US dollars. The program was run through the office of former Ohio Treasurer Josh Mandel.

The website that allows Ohioans to conduct crypto payments was shut down since there was no permission to operate the program.Josh Mandel

Future of the Bill

Even though crypto has gained a lot of popularity since 2018, Antani's bill is extremely unlikely to pass. The previous program in Ohio failed to gain traction, reaching fewer than ten payments.

Senator Antani's initiative could be an important step towards government-level recognition of cryptocurrencies, but it faces significant hurdles and skepticism.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

New Editorial Standards Aim to Enhance Reporting Quality.

chest

A new editorial policy has been established to ensure accuracy, relevance, and impartiality in reporting.

user avatarJacob Williams

Solana's Open Interest and Funding Rate Plummet

chest

Solana's open interest has dropped below 5 billion, and the weighted funding rate has reached its lowest point in over a year, indicating a bearish market sentiment.

user avatarZainab Kamara

Global Oil Production Faces Major Disruptions Due to Strait of Hormuz Situation

chest

The ongoing crisis in the Strait of Hormuz has led to significant disruptions in global oil production, with Qatar halting LNG production, Saudi Arabia suspending output, and Iraq making substantial cuts.

user avatarAyman Ben Youssef

Shell Gasoline Prices Surge Amid Strait of Hormuz Crisis

chest

Shell gasoline prices are climbing rapidly due to the effective closure of the Strait of Hormuz, which has been impacted by US-Israeli strikes on Iran.

user avatarSon Min-ho

Hyperliquid Policy Center Supports CFTC's Regulatory Plans for Perpetual Derivatives

chest

The Hyperliquid Policy Center supports the CFTC's regulatory plans for crypto perpetual derivatives, aiming to shape clear rules for decentralized markets.

user avatarTando Nkube

CFTC Chair Mike Selig Announces Plans for Onshore Crypto Perpetual Futures

chest

CFTC Chair Mike Selig announces plans for a regulatory framework to allow crypto perpetual futures trading onshore in the US.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.