RATE Group | Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency
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Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency

01 Dec Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency

Posted at 21:06h in Bitcoin News by

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ohio bitcoin tax crypto

CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here.

Well, here’s something we didn’t expect this early in the century. Ohio’s state government is now accepting Bitcoin and Bitcoin Cash via its payment portal, serviced by BitPay.

As CCN reported:

“Ohio will become the first state in the US to officially accept tax payments in bitcoin, according to a Wall Street Journal report. Beginning this week, businesses who plan to make settlements for their taxes with bitcoin can visit OhioCrypto.com and register to pay all their corporate taxes to the government in BTC. The state government has partnered with crypto payment processor BitPay to handle the payment in crypto and conversion to dollars for the tax office.”

Now, let’s talk terminology.

Throughout its history, Bitcoin was not truly a currency, even though it had most properties of currency, because it could not be used to pay taxes. This was one of the…

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