Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Businesses in Ohio Can Now Pay Their Taxes in Bitcoin

by Daily Hodl Staff
November 25, 2018
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

Ohio is now the first state in the US where businesses can make tax payments in cryptocurrency. According to a report by The Wall Street Journal, Ohio has launched an initiative called OhioCrypto.com that allows businesses to spend crypto on taxes. Monday will mark the first day when Ohio businesses can sign up and start making crypto payments through BitPay.

The announcement comes at a time when the world’s largest cryptocurrency is enduring a sustained bear market with Bitcoin falling as low as $3,622 from a high of $5,604 within the past seven days, according to data on WorldCoinIndex. While proponents say that Bitcoin will make a comeback, critics claim that the blockchain-based payment network has failed to catch on with merchants and major retailers.

By allowing business owners to pay taxes in crypto, Ohio legislators are making a major push to support Bitcoin and other altcoins as viable forms of money.

BitPay, an Atlanta-based startup founded in 2011, will facilitate the transactions by allowing businesses to pay in Bitcoin, and then instantly convert those payments into US dollars. The Ohio state government will then accept the payments, settled in US dollars. One of BitPay’s primary roles will be to minimize the risk of Bitcoin’s extreme volatility – an obstacle that has prevented merchants from accepting Bitcoin as a form of payment.

The initiative was spearheaded by Ohio state treasurer Josh Mandel. According to the WSJ report, Mandel says, “I do see [Bitcoin] as a legitimate form of currency.”

The Crypto Beat

Bullish BitPay CEO Predicts When Bitcoin (BTC) Will Bounce Back

Arizona Advances Groundbreaking Bill to Accept Crypto for Taxes



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
  • Ethernity Chain Launches Authenticated NFT Marketplace to Curtail Fraud
    April 13, 2021
  • ConsenSys-Backed Virtue Poker Raises $5 Million Strategic Round
    April 12, 2021
  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
  • Blockchain Provider Orbs Is Now Accessible Through the AWS Marketplace
    April 8, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$63,420.00
$63,420.00
1.02%
Ethereum
$2,501.92
$2,501.92
2.81%
Binance Coin
$545.31
$545.31
0.59%
XRP
$1.81
$1.81
0.57%
Polkadot
$43.39
$43.39
2.88%
Cardano
$1.49
$1.49
2.63%

Spotlight

  • Federal Judge Sides With Ripple, Grants Access to Agency’s Internal Discussions on Bitcoin, Ethereum and XRP
    April 8, 2021
  • HSBC Abruptly Bans Clients From Investing in Michael Saylor’s MicroStrategy
    April 12, 2021
  • Elite Class of Crypto Assets Will Outperform Bitcoin, Says Macro Guru Raoul Pal
    April 10, 2021
  • Top Analyst Says Cardano Undervalued, Will Print Massive 10x Gains – Here’s When
    April 14, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×