- The Ohio State Board of Deposit unanimously approved a vendor to process Bitcoin payments for state fees and services.
- The move follows the Ohio Blockchain Basics Act and plans for an Ohio Strategic Crypto Reserve.
- More U.S. states are exploring Bitcoin reserves, with 47 introducing proposals and about 26 still actively considering legislation.
Ohio residents will soon be able to pay state fees and services using Bitcoin and cryptocurrencies, following a unanimous vote by the Ohio State Board of Deposit.
On Wednesday, the board cleared the last hurdle by selecting a vendor to process crypto transactions, including Bitcoin.
This decision wraps up a process that began in April when Secretary of State Frank LaRose and State Treasurer Robert Sprague proposed crypto payment options. The plan secured initial board approval in May, but required a final vendor sign-off to move forward.
Demand for Bitcoin and Crypto Payment Options
“With hundreds of thousands of transactions handled by my office each year, it’s clear Ohioans are asking for a crypto option,” LaRose said. “We’re ready to be the first state to provide it.”
LaRose noted that filings ranging from business registrations to campaign finance reports often draw requests for easier digital payment methods. Coinbase CLO Paul Grewal applauded the development on social media, saying, “Government payments in Ohio today. Everything on-chain tomorrow.”
Part of Ohio’s Broader Crypto Strategy
The crypto payment plan is part of a larger digital asset agenda taking shape in Ohio. In June, the state House advanced the Ohio Blockchain Basics Act. This bill prohibits local governments from restricting the use of digital assets and exempting crypto transactions under $200 from capital gains tax reporting.
Related: Liechtenstein to Accept Bitcoin Payments for Certain State Services
LaRose has also voiced support for House Bill 18, which aims to create an Ohio Strategic Crypto Reserve funded by a portion of the state’s investment earnings. The reserve would hold digital assets as part of Ohio’s financial strategy.
Part of a National Trend
Ohio’s move comes amid a growing wave of state-level efforts to incorporate Bitcoin into public policy. According to the Bitcoin Laws tracker, over 45 states have introduced proposals for strategic bitcoin reserves, with approximately 26 still under discussion.
Arizona, Texas, and New Hampshire have made the most progress in advancing such measures. At the same time, Michigan recently revived its own effort, pushing House Bill 4087 to the Government Operations Committee after months of delay.
Related: New Hampshire Eyes Bitcoin Investment for State Funds; Bill Advances, Market Watchers React
Ohio’s decision to enable Bitcoin payments highlights how U.S. states are competing to attract investment and position themselves at the forefront of the digital economy.
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Source: https://coinedition.com/ohio-clears-bitcoin-payment-processing-for-state-services/
