Friday , March 5 2021

The WSJ warns that Ohio is the "first state to accept Bitcoin for taxes" in the United States.

The US state of Ohio is about to be the first to accept Bitcoin (BTC) as a tax payment, as reported in the November 25th Wall Street Journal (WSJ) report.

As WSJ wrote, the measure is initially only applicable to companies and plans to expand individual taxpayers in the future. Starting this week, Ohio-based companies can register to pay all taxes in the main crypto currency. It is reported that payments are configured to be processed through the BitPay encryption service.

As reported by the WSJ, the crypto-friendly measure was initiated by the State Treasurer Josh Mandel, who told reporters that he wanted to "plant a flag" in the sense of national adoption of the crypt, Ohio:

"I see [al Bitcoin] as a legitimate currency. "

Mandel also said in a statement to the publishing house that "this crypto money initiative will continue" after the end of January this year. Mandel, a elected civil servant, told reporters that his office could decide that he would accept digital money "without the approval of the legislature or the governor".

Rather, various US invoices have been launched in other US states. Last year, they offered to accept crypts for taxes, but state legislators postponed their final approvals.

The Cointelegraph reported in May that the Arizona House of Representatives approved a bill that would allow citizens to pay taxes using crypto-money, but after the election, the initiative was blocked by changes.

In February, the US state of Georgia also introduced a bill to accept crypto coins as a valid tax and state license payment method. At the close of this oppression, the state of the law says: "25% progress has been made in the committee".

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