Want to set up a new business or pay a Bureau of Motor Vehicles fee? You might soon be able to pay in Bitcoin or other cryptocurrency
Trump signs order establishing strategic Bitcoin reserve
President Trump signed an order Thursday to create a federal Strategic Bitcoin Reserve, signaling new federal support for cryptocurrency in general and Bitcoin in particular.
Scripps News
- Ohio may accept cryptocurrency for state fees and services as early as this fall.
- Businesses and individuals would pay a transaction fee, similar to credit card transactions, for cryptocurrency conversion.
- Ohio Secretary of State Frank LaRose aims to be the first adopter, accepting Bitcoin for business filings.
- This move follows increased cryptocurrency popularity and aligns with other proposed Ohio legislation regarding digital assets.
Want to set up a new business or pay another fee? You might be able to pay in Bitcoin or other cryptocurrency as soon as this fall.
Ohio Treasurer Robert Sprague and Ohio Secretary of State Frank LaRose will ask a state panel next month to approve the use of cryptocurrency, such as Bitcoin, to pay for state fees and services.
If approved, the state would find a company to convert cryptocurrency into cash that the state can use. Customers would pay a fee for the transaction, similar to when they use a credit card.
Then, each agency and department would decide whether to accept cryptocurrency. That process could take months, but LaRose wants to be the state’s first adopter, accepting Bitcoin to pay for business filing fees.
“I don’t anticipate that there will be hundreds of thousands of Ohioans that are immediately starting to pay their fees on the Ohio Secretary of State’s website in Bitcoin, but there will be some,” said LaRose, who said he owns about $10,000 in Bitcoin. “What this does is signal that Ohio is near the forefront of embracing this financial technology.”
The move comes as the popularity of cryptocurrency, especially among Republicans, is increasing.
During Vivek Ramaswamy’s presidential bid, the Ohio governor candidate was bullish on cryptocurrency, introducing a policy to curb the overregulation of it. Both Sprague and LaRose have endorsed Ramaswamy’s 2026 bid to replace Gov. Mike DeWine.
Meanwhile, Ohio lawmakers are pitching the Ohio Blockchain Basics Act, also known as House Bill 116. The proposed law would prevent state and local governments from charging additional taxes and fees on cryptocurrency, among other changes.
Another proposal, Senate Bill 56, would allow Ohioans to pay taxes and fees with Bitcoin. And House Bill 713 would create a cryptocurrency reserve − an idea that Sprague said he still has questions about.
Former Ohio Treasurer Josh Mandel, who ran unsuccessfully for U.S. Senate, was an early adopter of Bitcoin. He wanted Ohioans to be able to pay their taxes in cryptocurrency, setting up OhioCrypto.com.
But Sprague canned the idea, and Ohio Attorney General Dave Yost later said that Mandel hadn’t set it up properly.
Sprague said this new idea is different because it follows the right process. He also added that the federal government is much more supportive of cryptocurrency and limiting its regulation than it once was.
“This has come and if you don’t go out in front of it, you’ll get dragged behind the bus,” Sprague said.
State government reporter Jessie Balmert can be reached at jbalmert@gannett.com or @jbalmert on X.