Ohio is going to accept crypto payments for state costs

The Ohio State Board of Deposit unanimously approved Crypto payments, including Bitcoin, for state costs and services in its latest attempt to integrate crypto into public finances.

“With hundreds of thousands of transactions that go through my office every year, I want to recommend the board for taking daring action to position us at the forefront of the emerging digital economy”, “, tweeted On Wednesday.

The approval months of Wednesday, months of work that started in April, when Larose and Ohio treasurer Robert Sprague pushed the board to authorize crypto payments.

The proposal continued unanimously in May, but needed the final approval of the seller, the last part that fell into place on Wednesday.

“There is a reason why we now belong to the top five of the nation to do business,” Larose said in one rack. “It is because we are not afraid to embrace the tools, trends and technologies that encourage workers to get here.”

The State Secretary said that his office has been processing hundreds of thousands of transactions annually and has heard ‘growing demand for an option for cryptocurrency’.

“I am excited and ready to be the first to give it to our customers,” he added.

“It happens. Government payments today in Ohio. Everything tomorrow. tweeted In response to the announcement

The crypto payments are part of Ohio’s wider push in digital assets.

In June, the house Advanced the Ohio Blockchain Basics ActThose local authorities prohibit the use of digital assets and crypto transactions less than $ 200 freeing from power gain tax.

Dennis Porter, CEO of the Satoshi Action Fund, previously told Decrypt That the legislation “a clear signal” is that legislators encourage “innovation in the state of Buckeye”.

Larose also supports House Bill 18Who would create a strategic crypto reserve from Ohio, financed by parts of the income of the government investments.

In May testimonyHe called the working group of President Donald Trump on digital asset markets, founded in January to turn America into the ‘Crypto capital of the planet’.

So far, 47 states have introduced Strategic Bitcoin -Reserve (SBR) accounts, with around 26 states that have active proposals that are still being considered, according to the Bitcoin Laws Tracker.

Arizona, Texas and New Hampshire are Under the few To promote the furthermore, while most are stuck in the committee.

In the meantime, the stuck Bitcoin reserve legislation of Michigan is Momentum This week, with House Bill 4087 after seven months from inactivity to the Government Operations Committee.