More

    Ohio To Accept Bitcoin As a Tax-Paying Currency!

    If you’re into tech, you’d probably heard into cryptos too. Cryptocurrencies, which are a byproduct of Blockchain tech are the latest things talked in the town.

    And the very latest is, US state Ohio announced that it will be accepting bitcoin as a tax-payment method from businesses starting this week. While adoption by the community is good adoption by Government is great. Which in present only Bitcoin seems to achieve that greatness. But Ohio government is planning to add more Cryptocurrencies to its tax-payment list soon.

    Ohio To Accept Bitcoin As a Tax-Paying Currency!

    Ohio To Accept Bitcoin As a Tax-Paying Currency

    Speaking up, Treasurer of state Ohio, Josh Mandel said “I do see Bitcoin as a legitimate form of currency” and hoped that other states too might follow this policy.

    Previously, such tax payment policy by Bitcoin Bill is proposed by states Arizona, Illinois, and Georgia haven’t been passed but delayed. But Ohio had done through these and well backed by the Treasurer even though his term is about to end very soon.

    They said businesses of all kinds shall register in OhioCrypto.com and pay their taxable balance through their Bitcoin wallets. It will be processed by Crypto entity Bitpay and shall convert them into dollars for the government, taking the risk of volatility in between.

    The government said that this crypto form of tax-paying service would soon be given to residents too. By all such policies, Ohio wants to make itself a mark of believing the new technology and paving a path for others to follow.

    Bitcoin and other cryptos are in free fall this year and Bitcoin being back to below $4000 in latest hours. So this policy is really a notable moment to see that cryptos are really an applicable or erodible currency of the future.

    Be it volatility, uses, prices, adoption, Cryptos have been a wondering topic every time. What are your thoughts on the new regulation? Let us know in the comments below.

    Recent Articles

    Spotify Premium Apk Free Download 2020

    Are you looking for Spotify Premium Apk? Don’t worry! I have got your back. In this article, you are going to get the latest...

    Netflix Cookies 02 July 2020 Hourly Updated

    Are you looking for a premium Netflix account using Netflix cookies? Don't worry in this article I am sharing 5 working Netflix Premium Cookies...

    List of 59 Apps Banned in India and their Alternatives

    The Ministry of Electronics and Information Technology on 29th June banned 59 Apps in India including some of the most famous apps like Tik...

    How To Fix Steam Store Not Loading

    What is Steam? Fix Steam Store Not Loading: Steam is one ultimate destination for playing, discussing, and creating new games. On steam, you can find...

    How To Download Valorant For Free On PC

    What is Valorant? Download Valorant: Valorant is a multiplayer game that is developed and published by Riot Games. It is a 5 on 5 character-based...

    Related Stories

    Leave A Reply

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Stay on op - Ge the daily news in your inbox