U.S. Senator Pushes Bill to Legalize Crypto Payments and Boost Digital Investment
Ohio Senator Niraj Antani has introduced a new bill aimed at legalizing cryptocurrency payments in the state, presenting the proposal on September 30.
This legislation would enable residents to pay local taxes and fees using Bitcoin and other digital currencies. With the upcoming Presidential election looming, the bill’s future remains uncertain as state lawmakers debate the issue.
Antani views cryptocurrency as crucial for the future and sees this bill as a step toward widespread digital currency adoption in the U.S.
If passed, it would revive a previous 2018 initiative by former State Treasurer Josh Mandel, which sought to allow crypto payments for taxes but was never fully enacted. Antani’s proposal could place Ohio among the most crypto-forward states.
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The bill also includes provisions that may allow state pension funds and universities to invest in cryptocurrency markets, further boosting crypto’s role in Ohio’s economy.
This move mirrors a broader trend, as other states like Wisconsin and Michigan have already begun investing in Bitcoin ETFs through their pension funds. If successful, Ohio’s Public Employees Retirement System, with $114 billion in assets, could potentially follow suit and allocate part of its portfolio to crypto investments.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
