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Committee hears sponsor testimony on Ohio Bitcoin Reserve Fund bill that would let state accept Bitcoin for taxes and hold it five years
Summary
Sen. O'Brien presented Senate Bill 57 to establish an Ohio Bitcoin Reserve Fund in the state treasurer's office, allow tax and fee payments in Bitcoin, impose custodial security measures, and require the state to hold Bitcoin at least five years before conversion; the committee held a first hearing and took no formal action.
Senate Bill 57, introduced by Sen. O'Brien, received a first hearing before the Senate Financial Institutions, Insurance and Technology Committee. The bill would create an Ohio Bitcoin Reserve Fund in the state treasurer’s office, allow the state to accept tax and fee payments in Bitcoin, and require Bitcoin held in the fund to be retained for at least five years before conversion to U.S. dollars or other currencies.
“O B R F,” O’Brien said, describing the…
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