Ohio’s Home of Representatives has handed a invoice that might give a raft of protections for crypto and exempt crypto transactions under $200 from capital acquire taxes.
State Home lawmakers voted 70-26 on Wednesday to cross Home Invoice 116, titled the Ohio Blockchain Fundamentals Act, which is able to now head to the state’s Senate earlier than it lands on Governor Mike DeWine’s desk.
The invoice handed the state’s Expertise and Innovation Committee with bipartisan help in a 13-0 vote earlier within the day.
The invoice is primarily backed by Republican Consultant Steve Demetriou, who mentioned on Wednesday that its “two most important focuses” are permitting for simpler crypto funds and “defending digital asset mining companies from discriminatory authorities overreach.”
🇺🇸 JUST IN: Ohio’s ‘Bitcoin Rights’ invoice HB 116 passes the Home by a 68-26 vote, subsequent heading to the Senate. pic.twitter.com/xRcTXC3KCI
— Cointelegraph (@Cointelegraph) June 19, 2025
Many US state lawmakers are contemplating passing crypto payments, with 40 out of fifty states within the US having launched a complete of over 160 crypto-related payments, in accordance with the digital asset regulation monitoring web site Bitcoin Legal guidelines.
Invoice to make $200 crypto funds tax-exempt
The invoice would exempt all crypto transactions underneath $200 from capital features taxes, a determine that might rise every year with inflation.
The $200 restrict would apply within the first tax yr when, or if, the invoice is handed and could be raised according to the Client Worth Index, rounded as much as the closest $5.
The invoice would additionally cease the state’s tax commissioner from lowering the restrict after it’s been raised and prohibit the state authorities and state companies from implementing guidelines proscribing residents from accepting crypto as a cost technique.
Ohio desires to open up crypto mining
The invoice would additionally enable anybody to mine crypto in an space zoned for residential use, as long as they adjust to native ordinances and laws round noise.
Crypto mining companies that meet native laws would even be allowed to “function in any space of this state that’s zoned for industrial use,” the invoice states.
The invoice additionally goals to guard crypto mining operations, and says the state shouldn’t implement legal guidelines or guidelines particular to crypto mining enterprise “that doesn’t additionally apply to different equally located companies.”
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It could additionally ban the state from rezoning land that might have an effect on a crypto mining enterprise “with out going by the correct discover and remark course of,” and aggrieved crypto miners can take any rezoning to courtroom in the event that they consider they’re being discriminated in opposition to.
Deregulating mining, staking, swaps, nodes and wallets
The Blockchain Fundamentals Act additionally states that no cash transmitter license is required for a bunch of actions that assist run blockchains or don’t contain using fiat currencies.
The invoice states no particular person wants a license “solely to have interaction” in crypto mining, staking, working a blockchain node, exchanging one cryptocurrency for an additional, or creating or deploying software program that enables for crypto swaps.
It additionally states that companies offering crypto mining or staking companies are “not thought of to offer a safety or funding contract,” which federal regulators underneath the Biden administration argued was the case when taking dozens of crypto corporations to courtroom.
The invoice additionally prohibits the federal government and its companies from making guidelines that cease or inhibit Ohioans from taking custody of crypto utilizing a {hardware} or self-hosted pockets.
Ohio can also be set to think about a invoice that might create an “Ohio Bitcoin Reserve Fund,” which was launched in January and referred to the Monetary Establishments, Insurance coverage, and Expertise Committee.
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