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Ohio’s House of Representatives has passed a bill that would give a raft of protections for crypto and exempt crypto transactions below $200 from capital gain taxes.  State House lawmakers voted 70-26 on Wednesday to pass House Bill 116, titled the Ohio Blockchain Basics Act, which will now head to the state’s Senate before it lands on Governor Mike DeWine’s desk. The bill passed the state’s Technology and Innovation Committee with bipartisan support in a 13-0 vote earlier in the day. The bill is primarily backed by Republican Representative Steve Demetriou, who said on Wednesday that its “two main focuses” are allowing for easier crypto payments and “protecting digital asset mining businesses from discriminatory government overreach.” 🇺🇸 JUST IN: Ohio’s ‘Bitcoin Rights’ bill HB 116 passes the House by a 68-26 vote, next heading to the Senate. pic.twitter.com/xRcTXC3KCI — Cointelegraph (@Cointelegraph) June 19, 2025 Many US state lawmakers are considering passing crypto bills, with 40 out of 50 states in the US having introduced a total of over 160 crypto-related bills, according to the digital asset law tracking site Bitcoin Laws. Bill to make $200 crypto payments tax-exempt The bill would exempt all crypto transactions under $200 from capital gains taxes, a figure that would rise each year with inflation. The $200 limit would apply in the first tax year when, or if, the bill is passed and would be raised in line with the Consumer Price Index, rounded up to the nearest $5. The bill would also stop the state’s tax commissioner from decreasing the limit after it’s been raised and prohibit the state government and state agencies from implementing rules restricting residents from accepting crypto as a payment method. Ohio wants to open up crypto mining The bill would also allow anyone to mine crypto in an area…

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Filed under: News - @ June 19, 2025 6:27 pm