Pro-Bitcoin Ohio Bill Promotes Government Adoption of Blockchain

By CCN.com: A bill introduced this week in the Ohio House of Representatives urges government entities to adopt blockchain, the technology underpinning bitcoin. Republican state representative Rick Carfagna sponsored the bill. The legislation, called House Bill 220, is part of Ohio’s plan to provide a legal framework for distributed ledger technology such as blockchain (see text below). Rep. Carfagna did not return CCN’s calls for comment. The legislation would enable the establishment of a decentralized online record for transactions such as car titles or hunting licenses, according to Cleveland.com. Ohio…

Ohio State Legislature Introduces Bill to Allow Gov’t to Implement Blockchain Solutions

A new bill introduced on April 24 in the American state of Ohio’s House of Representatives would, if passed, allow the state government and other government entities to implement blockchain solutions in the exercise of their authority. According to the official website of the Ohio state legislature, the bill, titled House Bill 220, has been sponsored by the Republican Party’s State Representative Rick Carfagna, who represents Ohio’s 68th District in the House. As Northeast Ohio media agency Cleveland.com reported on April 25, the bill would prospectively legalize government blockchain applications…

Two Companies Used Crypto to Pay Taxes in Ohio, Says State Treasurer

Two businesses in the United States state of Ohio have paid taxes with cryptocurrencies, state Treasurer Robert Sprague said in a forum on Feb. 19. Ohio became the first state to allow businesses to pay taxes with cryptocurrencies like Bitcoin (BTC) in November 2018. During a forum covering policy issues facing the state, Sprague said that the treasury has only collected two receipts for tax payments using cryptocurrencies. He did not specify the specific amount of tax payments received through cryptocurrency. With that, Sprague emphasized that the Ohio state treasury…

Ohio County Auditors to Explore Blockchain-Based Real Estate System

The County Auditors’ Association of Ohio (CAAO) has announced the formation of a working group to study the use of blockchain for the effective transfer of property deeds. The news was reported on Feb. 21 by Ohio-based blockchain startup SafeChain — the technical advisor for the multi-county initiative. The association’s collaborative effort will reportedly test the use of blockchain technology to bring efficiency gains to the execution and management of real estate transactions and the transfer of land titles across multiple counties. Their ongoing projects will be reportedly be reviewed…

Overstock to pay taxes in Ohio using Bitcoin

Overstock is set to be the first major company that will pay its taxes in the state of Ohio using Bitcoin. The move is possible thanks to the US state passing a law that allows individuals and companies to pay taxes using crypto. The online retail giant said the step was part of continuous efforts to promote the use of cryptocurrencies. Overstock will lead the way by paying taxes using Bitcoin Patrick Byrne, the founder, and CEO of Overstock praised Josh Mandel, the Treasury of Ohio for making the state…

Overstock Wants to Pay its Ohio Business Tax in Bitcoin

Online retailer Overstock announced it would pay a part of its Ohio state business tax using bitcoin, making it the first company to use Ohio’s crypto tax portal, Fortune reported on January 3, 2019. Paying Taxes in Virtual Currency An online retail company has made new year’s headlines as being the first to make use of a relatively new phenomenon: Paying state taxes in crypto. According to Fortune, online retailer Overstock announced that it would be paying a part of its Ohio state business tax using bitcoin. This would make…

US Retail Giant Overstock to Use Bitcoin to Pay Its Taxes in Ohio

United States retailer Overstock.com has announced it will pay part of its business taxes in the state of Ohio using Bitcoin (BTC), according to an announcement on its website Jan. 3. Overstock will cover commercial activity taxes (CAT) with Bitcoin starting February, using the recently launched cryptocurrency taxpayer platform, OhioCrypto.com. The company’s CEO and founder Patrick Byrne — a longtime crypto enthusiast — said in the announcement that governmental adoption of cryptocurrencies and other emerging technologies, accompanied by friendly legislation, is “the best way to ensure the U.S. does not…

Ohio Embraces Bitcoin & Celebs Fined for ICO Ads

CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. The last week of November was all about taxes, regulation, and SEC enforcement for Bitcoin and the wider crypto ecosystem. Major Headlines Sirin Labs Launches the FINNEY: The world’s first blockchain phone on the market, the FINNEY, launched at an event in Barcelona on Thursday. CCN’s Josiah Wilmoth was on the scene. The phone, its dApp store, and native blockchain integration have many wondering if crypto has finally arrived.…

Ohio to Accept Tax Payments in Crypto — Setting the Standard for Future?

In what is being hailed as a first in America, Ohio’s State Treasurer Josh Mandel has made it possible for businesses to pay taxes using Bitcoin. In the coming weeks, business owners in the state will be able to register and settle their tax liabilities online, with payments to be processes by cryptocurrency payment service provider BitPay. Businesses will be able to pay 23 different taxes using BTC through an online portal that has been set up by the state treasury office. As it stands, individuals will not be able…

Ohio Begins Accepting Bitcoin for 23 Types of Taxes

Ohio has become the first state in the U.S. and the first governments in the world to accept Bitcoin (BTC-USD) for tax payments. The state has launched an online platform called OhioCrypto.com, to allow businesses to pay taxes with cryptocurrency. Eligible for payment on the website include 23 different taxes. “We are proud to make Ohio the first state in the nation to accept tax payments via cryptocurrency,” Ohio Treasurer Josh Mandel said in a statement. “We’re doing this to provide Ohioans more options and ease in paying their taxes and also…