US State Ohio Allowed Paying Taxes with Bitcoin

US State Ohio Allowed Paying Taxes with Bitcoin

From today (November 26, 2018) Ohio citizens can pay taxes not only in the national currency of the United States, but also in bitcoin. The decision was taken by the Ohio state government. Innovation concerns taxes and fees that are paid to the state budget. In order to take advantage of the new opportunity, businesses and citizens will have to register with OhioCrypto.com.

This solution is aimed at simplifying the process of paying taxes and fees. The author of the initiative, Josh Mandel, believes that innovation will make Ohio the most progressive and attractive state for doing business. According to Wall Street Jornal, state enterprises have already begun to receive requests for payment of taxes in crypto.

However, bitcoin itself does not turn into legal means of payment in the state. The budget will receive US dollars and BitPay company will be responsible for the conversion. Thus, it is too early to say that US government institutions are switching to cryptocurrency. It is rather finding ways to increase budget revenues, than taking care of crypto enthusiasts. But do we want jam on it? Even such a step is positive. We hope that this is only the first step towards the complete legalization of BTC and equalization of its status with fiat.

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US State Ohio Allowed Paying Taxes with Bitcoin
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