• 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

2 years 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

ONDO Achieves Major Milestone with $1 Billion in Total Value Locked

chest

ONDO Global Markets has surpassed $1 billion in total value locked within just eight months of its launch, establishing itself as a leader in the tokenized equity market.

user avatarLuis Flores

SEC's New Framework Could Revolutionize Tokenized Stocks

chest

The US SEC is reportedly preparing a framework that could allow tokenized versions of stocks to trade on crypto platforms, potentially reshaping the stock market.

user avatarArif Mukhtar

Solana Faces Resistance in Parallel Channel

chest

Analyst Ali Martinez discusses Solana's recent price movements and the formation of a Parallel Channel.

user avatarMaria Gutierrez

KB Financial Launches Successful Pilot for Won-Denominated Stablecoin

chest

KB Financial Group has successfully completed a payment pilot for a won-denominated stablecoin, integrating various financial processes into a single workflow.

user avatarDavid Robinson

South Korea's Digital Asset Act Faces Delays Amid Regulatory Disagreements

chest

The Digital Asset Act in South Korea faces delays due to disagreements between financial regulators, impacting stablecoin legislation.

user avatarAndrew Smith

Bitcoin Faces Critical Week After Losing Key Support Level

chest

Bitcoin's price has dropped below a crucial support level, raising concerns about its ability to regain upward momentum.

user avatarJacob Williams

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.