Ohios House of Representatives has passed a bill that would give a raft of protections for crypto and exempt crypto transactions below $200 from capital gain taxes.
State House lawmakers voted 70-26 on Wednesday to pass House Bill 116, titled the Ohio Blockchain Basics Act, which will now head to the states Senate before it lands on Governor Mike DeWines desk.
The bill passed the states Technology and Innovation Committee with bipartisan support in a 13-0 vote earlier in the day.
The bill is primarily backed by Republican Representative Steve Demetriou, who said on Wednesday that its two main focuses are allowing for easier crypto payments and protecting digital asset mining businesses from discriminatory government overreach.
