The Ohio House of Representatives passed House Bill 116, known as the Ohio Blockchain Basics Act, with a vote of 70-26.
This legislation aims to promote cryptocurrency adoption by exempting crypto transactions under $200 from capital gains taxes and providing protections for crypto mining businesses. The bill now moves to the state Senate before being sent to Governor Mike DeWine for approval.
Sponsored by Republican Representative Steve Demetriou, the bill received bipartisan support, including a unanimous 13-0 vote from the Technology and Innovation Committee. Demetriou highlighted the bill’s two main goals: simplifying crypto payments and shielding digital asset mining from discriminatory government actions.
🇺🇸 JUST IN: Ohio’s ‘Bitcoin Rights’ bill HB 116 passes the House by a 68-26 vote, next heading to the Senate. pic.twitter.com/xRcTXC3KCI
— Cointelegraph (@Cointelegraph) June 19, 2025
Exempting all crypto transactions below $200 from capital gains taxes in the first tax year after enactment. This threshold will increase annually in line with inflation, as measured by the Consumer Price Index, rounded to the nearest $5. The state tax commissioner cannot reduce this limit once it has been raised. Prohibiting state agencies from restricting residents’ ability to accept cryptocurrency as payment.
Allowing crypto mining in residential zones provided miners comply with local noise and other ordinances. Mining businesses that meet regulations may operate in industrial zones without undue interference.
To prevent laws or rules targeting crypto mining that do not apply equally to similar businesses, the bill also requires proper notice and comment before rezoning land that affects mining operations and grants miners the right to challenge discriminatory rezoning in court. Exempting individuals and businesses from needing money transmitter licenses for activities such as crypto mining, staking, operating blockchain nodes, swapping cryptocurrencies, and developing related software. It clarifies that mining and staking services are not securities or investment contracts, countering federal regulatory claims.
Protecting users’ rights to custody their crypto via hardware or self-hosted wallets without government restrictions.
Notably, Ohio has joined a growing number of U.S. states advancing crypto-friendly legislation. Currently, 40 states have introduced over 160 crypto-related bills, reflecting increasing legislative interest in digital assets. The Ohio Blockchain Basics Act represents a significant step toward fostering a supportive environment for cryptocurrency use and innovation in the state.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
