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Ohio Might Legalize Crypto Tax Payments

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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.

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