Cryptocurrency

Ohio introduces cryptocurrency tax option; only two companies opt to use bitcoin to pay

February 22, 2019, 6:57AM EDT

Following the introduction of Ohio’s official cryptocurrency payment platform, just two businesses have filed their taxes using bitcoin, said Ohio’s state treasurer Robert Sprague,. How much the state received in bitcoin remains unknown, as financial confidentiality doesn’t allow divulging such information.

“We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor,” said Sprague at the forum organised by the Ohio State Associated Press.

The bitcoin payment option was launched in December last year, and so far has gained little popularity. However, lawmakers remain hopeful Ohio will attract blockchain companies.

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