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Cryptocurrencies may soon be officially utilized for tax and government fee payments in Ohio. A newly proposed bill requires state government agencies to accept digital assets as a form of payment.
Ohio State Senator Niraj Antani has put forward a bill that mandates local government agencies to accept cryptocurrencies as a legitimate payment method. Specifically, residents will have the ability to use digital assets for tax payments and various state fees.
According to the bill, the state’s tax commissioner will annually compile a list of cryptocurrencies that can be utilized for taxes, fees, fines, and other government charges. Taxpayers will be liable for all cryptocurrency transaction fees incurred.
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Central bank digital currencies (CBDC) are not included in the senator’s proposed definition of cryptocurrency that residents will be allowed to use for payments. Antani highlighted that the Ohio government supports decentralized financial instruments and will only accept digital assets that maintain a stable value in relation to a fixed amount of monetary value.
Antani’s proposal continues the state’s initiative that began in 2018, when Ohio became the first state to allow crypto tax payments. However, this process was suspended due to legal discrepancies.
Recently, residents in Louisiana were provided the option to pay for state services using BTC and USDC.
Сообщение Ohio to Accept Crypto to Pay Local Taxes and Fees появились сначала на CoinsPaid Media.
