Ohio Senator Proposes Bill To Accept Cryptocurrency For Taxes

According to Odaily, Ohio State Senator Niraj Antani has introduced a bill that mandates the state and all local governments to accept cryptocurrency as a payment method for state and local taxes. The proposed legislation includes Bitcoin and other cryptocurrencies. Ohio initially became the first U.S. state to accept cryptocurrency for tax payments in November 2018, but this practice was halted in November 2019 due to legal issues. Antani believes that since the State Depository Board has not taken action, the legislative body will now push this policy forward. Additionally, the bill explicitly permits state universities and state pension funds to invest in cryptocurrencies.