The Ohio House Development Act exempts less than $ 200 of cryptocurrency in capital gain taxes.

The House of Representatives Ohio passed a bill that allows encryption owners to use encryption assets more easily in payment, and developed the law to the Senate for further consideration.

The OHIO Blockchain Basic Act, also known as HB 116, passed the House of Representatives at 70-26 votes on Wednesday the day after developing through the Law and Innovation Committee. Website.

If it is enacted, this bill is an easy use of digital currencies to pay the cost of goods and services in Ohio, “encryption asset.” Sayed In the press release.

HB 116 will prohibit local governments to impose additional taxes or fees for individuals using cryptocurrency for legal services and exempt less than $ 200 in capital gain taxes.

The bill also tries to protect encryption mining companies from unfair goals for government policy.

Steve Demetriou, CEO of Steve Demetriou, a major supporter of the bill, said, “It is important that the blockchain and the digital asset industry can flourish in the Buck Eye State as digital commerce and personal information become more important in Ohio’s life.

Ohio is one of several states that review the laws of encryption, which focuses on paying and state financial management. At the federal level, the US Senate passed the landmark genius Stablecoin Bill on Tuesday, and now moves to the House of Representatives for additional considerations.

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