Bitcoin News
By Maheen Hernandez
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In a landmark move that could reshape how digital assets are treated at the state level, the Ohio House of Representatives has passed the highly anticipated “Bitcoin Rights”…
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This sweeping legislation, championed by State Representative Steve Demetriou, aims to create a clear, innovation-friendly legal environment for digital assets such as Bitcoin.
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Proponents of the bill argue that this exemption could significantly boost crypto adoption at the grassroots level, as it simplifies the use of digital assets in daily commerce.
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But House Bill 116 goes far beyond tax reform. It establishes a wide-ranging framework that protects the rights of both individuals and businesses operating in the cryptocurrency…
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In addition, the bill explicitly exempts crypto-related activities such as mining, staking, and node operation from being categorized under existing money transmitter,…
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If passed into law, the Ohio Blockchain Basics Act will prohibit state and local governments from restricting the use of digital assets for payments.
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A particularly important clause in the legislation is its protection of mining operations. The bill states that local governments cannot rezone or restrict mining activities…
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Representative Demetriou emphasized the broader significance of the legislation, stating, “Once we pass this bill, we’ll become one of the first states in the country to create a…
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This sentiment is echoed by crypto advocates across the U.S., who see Ohio’s proactive stance as a model for other states.
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The bill passed the House Technology and Innovation Committee unanimously with a 13-0 vote, reflecting bipartisan support and growing political will to embrace crypto innovation.
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If signed into law, House Bill 116 could pave the way for Ohio to attract blockchain startups, crypto miners, and digital asset investors, all while empowering residents to use…
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At a time when federal regulation of digital assets remains uncertain, Ohio’s move could be a pivotal moment in state-led crypto legislation, offering a blueprint for others to…
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