The Ohio State Council officially authorizes the use of cryptocurrencies for public service payments.
The Ohio State Depository Board unanimously approved a provider specialized in processing Bitcoin and other cryptocurrency payments for state taxes and services.
“With hundreds of thousands of transactions going through my office each year, I want to commend the board for taking bold action that positions us at the forefront of the emerging digital economy,” said Frank LaRose, Ohio Secretary of State, on X.
This decision marks the culmination of a process that began in April, when LaRose and Ohio Treasurer Robert Sprague first proposed authorizing cryptocurrency payments for public services. The proposal received unanimous approval in May but required final authorization from the payment provider.
Last June, the Ohio Blockchain Basics Act was passed, prohibiting local governments from restricting the use of digital assets and exempting cryptocurrency transactions under $200 from capital gains taxes.
LaRose also supports House Bill 18, which would create a strategic reserve in digital assets funded by portions of the state’s investment earnings.
