Committee Hears Testimony on Ohio 'Blockchain Basics' Bill, Questions Raised on Local Taxes, Mining and Pensions

At a second hearing on House Bill 116 before the House Technology and Innovation Committee, witnesses, the bill sponsor and committee members discussed provisions aimed at creating a statutory framework for blockchain and certain digital-asset transactions in Ohio. Testimony centered on tax treatment for small transactions, local-government tax restrictions, zoning protections for digital-asset "mining," and a provision about public pension evaluations that the sponsor said may be removed.

The bill sponsor, Representative Daniel Demetrio, said the measure — described to the committee as the "Blockchain Basics Act" — would insert definitions and a framework into the Ohio Revised Code so the state can treat digital assets consistently with other forms of commerce. "Blockchain is bigger than cryptocurrency," Demetrio told the committee, adding the law would give the legislature a base from which to later expand or alter regulation.

Witnesses representing industry and advocacy groups urged passage. Donovan O'Neil, state director of Americans for Prosperity Ohio, said HB 116 would "ban special taxes or…