Summary
- The state of Ohio, USA, has reportedly passed a bill that exempts capital gains tax on Bitcoin payments under $200.
- The bill is expected to lower barriers to using Bitcoin in daily transactions by exempting taxes on small payments.
- It is also reported that the bill includes provisions to clarify legal rights concerning blockchain protocol, virtual asset mining, and node operation.
The state of Ohio in the United States has passed a bill that grants tax exemption for Bitcoin (BTC) payments of $200 or less.
According to CryptoSlate on the 19th (local time), the Ohio House Technology Committee unanimously passed the 'HB 116', which exempts capital gains tax on Bitcoin payments under $200.
This is expected to eliminate tax barriers for small Bitcoin transactions and make it easier to use Bitcoin in everyday transactions. Meanwhile, the bill reportedly also clarifies the legal rights regarding blockchain protocols, virtual asset (cryptocurrency) mining, and node operation.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
