RATE Group | US State of Ohio Suspends Service for Paying Taxes With Bitcoin
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US State of Ohio Suspends Service for Paying Taxes With Bitcoin

03 Oct US State of Ohio Suspends Service for Paying Taxes With Bitcoin

Posted at 00:48h in Bitcoin News by

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Ohio Treasurer Robert Sprague announced the immediate suspension of the OhioCrypto.com website that allows businesses to pay taxes with Bitcoin (BTC).

In an Oct. 2 press release, Sprague announced that according to an internal review, approval by the Board of Deposit was required before Ohio launched the website that allowed businesses to pay taxes with digital currencies. 

Furthermore, the State Board of Deposit has asked Attorney General Dave Yost to further research the legalities of how the crypto portal was set up and whether BitPay — the third-party processor that powered the service — constituted a “financial transaction device.” 

If so, the firm should have been selected under a competitive selection process codified in state law. Sprague said:

“It is vital that Ohio explores innovative, new technologies and processes that continue to drive Ohio into the future. However, we must make sure any new processes that are implemented, such as OhioCrypto.com, are…

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