Monday November 26, 2018

Ohio to Become the First U.S. State to Allow Taxes to Be Paid in Bitcoin

Ohio has become the first state to accept Bitcoin as a valid payment method for paying taxes. Starting this week, companies can register to make various types of tax payments in Bitcoin. Individuals will be allowed to make tax payments in Bitcoin at a later date.

News Image

Ohio has also been working to bring other aspects of blockchain technology into law. Over the summer, the state legally recognized data stored and transacted on a blockchain, meaning electronic signatures secured through blockchain technology have the same legal standing as any other electronic signatures. In the same month, Ohio lawmakers also pitched their state as a future hub for blockchain, hoping to both attract companies in the space and blockchain talent to the jurisdiction.