Ohio Senator Moves to Normalize Crypto Use with New Legalization Bill for Payments

• Ohio may soon allow crypto payments for taxes, restoring its 2018 crypto-friendly initiative if Senator Antani’s bill passes.
• The bill also proposes letting state universities and pension boards invest in crypto, signaling broader crypto adoption in Ohio.

Ohio State Senator Niraj Antani has introduced a new bill that aims to legalize the use of cryptocurrency for paying state and local taxes. Reiterating a previous CNF update, Ohio Senator Vance is known for his pro-crypto stance in the past and could play a crucial role in introducing crypto-friendly policies if Trump wins the upcoming elections.

With the presidential election just months away, it remains unclear how state lawmakers will respond to this proposal. If passed, Ohio would join the growing list of U.S. states embracing crypto adoption.

In his tweet on his personal X account, Senator Antani shared the news on social media, emphasizing the role of cryptocurrency in the modern economy. He stated, “Cryptocurrency is not just the future — it’s the present,” and expressed pride in being the most pro-cryptocurrency member of the Ohio Senate.

TODAY: I introduced a bill the legalize the use of cryptocurrency to pay state and local taxes and fees. Cryptocurrency is not just the future — it’s the present. I’m proud to be the most pro-cryptocurrency Member of the Ohio Senate. READ: pic.twitter.com/9lpYdkoGWT

— Niraj Antani (@NirajAntani) September 30, 2024

He even further highlighted that enabling Ohioans to pay taxes and fees with crypto would keep the state on the “cutting edge” of innovation and free enterprise.

Restoring Ohio’s Crypto-Friendly Legacy

This bill, if approved, would revive a 2018 initiative led by then-State Treasurer Josh Mandel, which made Ohio the first state to accept cryptocurrencies for tax payments. However, this plan was postponed in 2019 due to the State Board of Deposits failing to approve the use of crypto for tax matters. Senator Antani’s proposal seeks to restore that original move, positioning Ohio as a leader in crypto-friendly legislation.

In addition to enabling tax payments with cryptocurrency, the bill also proposes allowing state universities and pension boards to invest in the crypto market. With businesses increasingly accepting Bitcoin as a valid payment method, the race for crypto adoption in the U.S. continues to gain momentum.

As for the crypto market, according to CoinMarketCap data today, Bitcoin (BTC) is trading at $63,369.48, with a 3.59% decrease over the past day and a 0.10% increase in the past week. See the BTC price chart below.