- Ohio will allow cryptocurrency payments for state fees and services following a unanimous board decision.
- Secretary of State Frank LaRose said Ohio aims to lead in using digital payment methods for government transactions.
- The move follows recent legislation efforts supporting crypto, including proposed Bitcoin reserves and protection for blockchain use.
- The new system responds to growing demand for digital payment options among Ohio residents and businesses.
- Other states, including Arizona and Texas, have advanced crypto-related bills, while many proposals remain under review.
On Wednesday, the Ohio State Board of Deposit unanimously approved a vendor to process cryptocurrency payments, enabling residents and businesses to pay state fees and services using digital assets like Bitcoin. State officials said this step is part of Ohio’s move to adopt new financial technologies.
Secretary of State Frank LaRose stated his office handles hundreds of thousands of transactions every year and welcomed the decision. “With hundreds of thousands of transactions going through my office each year, I want to commend the board for taking bold action to position us at the forefront of the emerging digital economy,” LaRose shared in a recent tweet.
The approval comes after months of planning led by LaRose and Ohio Treasurer Robert Sprague. After the board approved the proposal in May, the final step was to select a vendor, which was completed this week. LaRose noted growing public demand for cryptocurrency payment choices and called the action a way to make Ohio attractive for businesses. He said, “I’m excited and ready to be the first to provide it to our customers.”
Digital asset adoption is part of a broader state effort. In June, Ohio’s House advanced the Ohio Blockchain Basics Act, which prevents local restrictions on digital assets and removes capital gains tax on crypto transactions below $200. Dennis Porter, CEO of the Satoshi Action Fund, commented that the measures encourage innovation within the state.
LaRose also supports House Bill 18, which proposes creating a strategic crypto reserve using a share of state investment earnings. This aligns with national efforts, as 47 states have introduced strategic Bitcoin reserve bills, with several, such as Arizona and Texas, advancing their legislation furthest, according to the Bitcoin Laws tracker.
This change follows wider developments, such as Michigan reviving its own Bitcoin reserve legislation after months in committee.
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