Ohio State officials have approved a law to allow residents and businesses to pay certain state fees using digital assets, including bitcoin.
The decision came after a unanimous vote by the Ohio State Board of Deposit. Ohio is now one of the first states in the nation to formally accept bitcoin for official payments.
The approval comes after months of work that began in April when Secretary of State Frank LaRose and Treasurer Robert Sprague pushed the board to allow bitcoin payments.
The board supported the idea in May, but needed a vendor. That came in late September, and now it’s a go.
“My office processes hundreds of thousands of financial transactions each year, and we’ve heard a growing demand for a cryptocurrency payment option,” LaRose said. “I’m excited and ready to be the first to provide it to our customers.”
Sprague also praised the move, saying, “We took the next step to position Ohio as a leader in the digital currency space.” After reviewing proposals, the board selected Grant Street Group to process payments securely and convert digital assets to U.S. dollars for the state.
It is now possible to pay various state fees using digital assets. That includes setting up a new business, renewing licenses, or paying Bureau of Motor Vehicles fees.
LaRose said it’s about convenience and innovation. “There’s a reason why we now rank among the top five states in the nation to do business. It’s because we’re not afraid to embrace the tools, trends, and technologies that incentivize job creators to come here.”
This isn’t just about payments – it’s part of a bigger push to adopt bitcoin at the state level. Lawmakers are considering the Ohio Strategic Cryptocurrency Reserve, which would allow the treasurer to invest a portion of state funds in high-cap assets like bitcoin.
LaRose has been a big supporter of this, calling it a way to keep Ohio competitive. “Ohio has always been a state of pioneers and innovators,” he said.
Earlier this year, the Ohio House passed the Blockchain Basics Act, which prohibits local governments from restricting digital assets and exempts small digital asset transactions under $200 from capital gains taxes.
Ohio is following the national trend. Nearly half the states have introduced bills to create a bitcoin reserve, with Arizona, Texas, and New Hampshire the furthest along. Michigan has also joined the trend again, reviving a stalled bill of its own.
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