The Ohio State Deposit Commission unanimously approved a vendor to process crypto payments, including Bitcoin, for state fees and services, in its latest bid to integrate Crypto into its finances.
“As hundreds of thousands of transactions pass through my office each year, I want to praise the board for taking bold action to put us at the forefront of the new digital economy.” Tweet on wednesday.
Wednesday’s approval will curb the months of work that began in April when LaRose and Ohio treasurer Robert Sprague pushed the board forward to approving crypto payments.
The proposal was passed unanimously in May, but required final vendor approval.
“There’s a reason we’re ranked among the top five states across the nation to do business,” Larose said. statement. “That’s because we’re not afraid to embrace the tools, trends and technology that encourages job creators to come here.”
The Secretary of State said his office processes hundreds of thousands of transactions each year, and hears “increasing demand for cryptocurrency payment options.”
“I’m excited and ready to offer it to my customers first,” he added.
“It’s happening. Government payments in Ohio today. All tomorrow is in place. Thank you Ser, Coinbase Clo, Paul Grewal, Tweet In response to the announcement
Cryptocurrency payments are part of Ohio’s broad drive to digital assets.
June, home We have advanced the basic laws of the Ohio blockchainprohibiting local governments from restricting the use of digital assets and exempt crypto transactions under $200 from capital gains tax.
Dennis Porter, CEO of Satoshi Action Fund, has previously been reported Decryption The law should be a “clear signal” that lawmakers “encourage Buckeye State innovation.”
Larose is also on the back House Bill 18Creates Ohio strategic crypto preparations funded by a portion of the state’s investment return.
In May testimonyhe cited President Donald Trump’s working group on digital assets markets, which was established in January to make America “crypto-capital of the globe.”
To date, 47 states have been introduced Strategic Bitcoin Reserve (SBR) invoices, about 26 states are still making aggressive proposals under consideration; Bitcoin Legal Tracker.
Arizona, Texas and New Hampshire are Among the few Most remain stuck on committees to promote measures.
Meanwhile, Michigan’s stagnant Bitcoin Reserve Act I gained momentum This week, House Bill 4087 advanced to the Government Steering Committee after seven months of omission.
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