The Ohio House of Representatives passed a bill that would provide a range of protections for cryptocurrencies and exempt cryptocurrencies from trading under $200.
State Assemblyman vote Bill 116 was passed Wednesday, titled Ohio Blockchain Basic Act, which will now head to the state Senate before landing at Gov. Mike Dewine’s desk.
The bill received bipartisan support in a 13-0 vote earlier in the day and passed the state’s Technology and Innovation Commission with bipartisan support.
The bill was supported primarily by Republican representative Steve Demetriou, who explain On Wednesday, its “two major priorities” allowed easier cryptocurrency payments and “protected digital asset mining operations from excessive abuses by discriminatory governments.”
🇺🇸Only in: Ohio’s “Bitcoin Rights” bill HB 116 passed the House with a 68-26 vote and then headed to the Senate. pic.twitter.com/xrctxc3kci
– Cointelegraph (@Cointelegraph) June 19, 2025
Many U.S. lawmakers are considering passing Encrypted billsin total, more than 160 cryptocurrency-related bills were introduced in 40 of the 50 states in the United States, according to Go to the digital asset law tracking website Bitcoin law.
Earn $200 in crypto payments tax-free
The bill would exempt all crypto transactions below $200, a figure that will rise with inflation every year.
The $200 limit will apply in the first tax year Consumer Price Indexrounded to the nearest $5.
The bill would also prevent the state’s tax commissioner from reducing restrictions after it was proposed and prohibit state governments and state agencies from enforcing rules to restrict residents from accepting cryptocurrencies as a payment method.
Ohio wants to open up crypto mines
The bill will also allow anyone to mine cryptocurrencies in the area they live in as long as they comply with local regulations and regulations Ambient noise.
The bill states that crypto mining operations that comply with local regulations will also “operate in any area of industrial use in any area of the state.”
The bill also aims to protect crypto mining operations and says the state should not enforce specific laws or rules for “crypto mining operations” “this also does not apply to other similar businesses.”
Related: Trump on Genius Stablecoin Act: “Bring it to my desk as soon as possible”
It will also prohibit the state from rezoning the land, which will “no need to go through the proper notification and comment process” and can any rezoning into court if they believe they are discriminated against.
Relax mining, piles, swaps, nodes and wallets
The Basic Law of Blockchain also states that a series of actions that help run blockchains or do not involve the use of fiat currencies does not require a currency transmitter license.
The bill states that no one needs to “only participate in” crypto mining, pile up, operate blockchain nodes, and exchange a cryptocurrency or develop or deploy a license to software that allows crypto exchange.
It also noted that businesses that provide crypto mining or points services “do not consider providing security or investment contracts”, federal regulators Biden gives medicine That’s it when dozens of crypto companies are brought to court.
The bill also prohibits governments and their agencies from developing rules to prevent or curb custody of Ohioans using cryptocurrencies hardware Or self-wallet.
Ohio will also consider a bill that will create the Ohio Bitcoin Reserve Fund Introduced in January and mention financial institutions, insurance and technical committees.
Magazine: Coinbase Hack Shows Laws May Not Protect You – That’s Why
