RATE Group | Future of Ohio Bitcoin program, deemed illegal, in limbo
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Future of Ohio Bitcoin program, deemed illegal, in limbo

13 Nov Future of Ohio Bitcoin program, deemed illegal, in limbo

Posted at 11:13h in Cryptocurrency News by

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Published: Wednesday, November 13, 2019 @ 6:04 AM
Updated: Wednesday, November 13, 2019 @ 6:03 AM

By:

Associated Press


COLUMBUS, Ohio

— Resuming Ohio’s attempt to allow cryptocurrency in certain tax payments is up in the air after the state’s top lawyer found a Bitcoin program launched by the former state treasurer was illegal.

Republican Attorney General Dave Yost found then-Treasurer Josh Mandel skirted state law when he launched the OhioCrypto.com website last year for business tax payments.

Yost’s legal opinion, issued Nov. 5, found that Atlanta-based BitPay, the state’s third-party processor, was functioning as a “financial transaction device.” That meant a competitive selection process, as well as the sign-off of the state Board of Deposit, was required to hire them. Messages seeking comment were left with Mandel and BitPay.

Treasurer Robert Sprague, a fellow Republican who succeeded Mandel in January,…

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