Ifeanyi Jesse 
Ohio Considers Legislation to Protect Bitcoin Rights
An Ohio congressman has sponsored legislation to preserve the freedom to utilize Bitcoin and other cryptocurrencies as peer-to-peer exchanges.
According to a summary provided by the Satoshi Act Fund, the Ohio Blockchain Basics Act, sponsored by state Rep. Steve Demetriou, “ensures American’s financial freedom” by protecting their right to “buy and sell,” “mine,” and “self-custody” their digital assets, as well as run a personal blockchain node.
“This legislation that I recently introduced will lay the foundation to become a leader in the blockchain and digital assets industries,” Demetriou posted to Twitter on Thursday.
Ohio Blockchain Council Introduces Lenient Crypto Taxes
The bill’s text also pushes for more lenient taxes on cryptocurrencies when used as a medium of exchange, arguing that Bitcoin and other coins should be taxed the same as legal cash in such transactions.
“The general assembly shall not enact a bill that proposes to impose a fee, tax, assessment, or other charge on digital assets used as a method of payment for goods and services that is based on the use of the digital assets as a method of payment,” it states.
The bill even requires the state retirement systems to evaluate some digital asset investments. The section calls for examining Bitcoin spot ETFs as an investment option for Ohio’s police, fire, teacher, highway patrol, and public employee pension funds.
