Ray of Bitcoin Hope as Ohio OKs Crypto Tax Payments

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Businesses in America’s Ohio have been given the green light
to pay their tax bills in cryptocurrencies, says the state’s
treasurer.
Speaking to the Wall Street Journal, treasurer Josh Mandel
explained that as of November 26 companies throughout the
state could register and pay for a whole range of taxes via the
OhioCrypto platform, using Bitcoin . The treasurer is quoted as
stating, “I see [Bitcoin] as a legitimate form of currency.”
Per the Wall Street Journal’s report, the state’s platform also
hopes to begin accepting other cryptocurrencies, and hopes to
allow “eventually” individuals in Ohio to pay taxes using the
platform.
A number of other American states have launched similar bids,
including Illinois, Arizona and Georgia, but none have yet
succeeded in persuading local legislatures to accept
proposals.
The OhioCrypto platform appears to be the brainchild of
BitPay , an Atlanta-based third-party blockchain payment
service.
For its part, BitPay appears to be optimistic about the future of
Bitcoin, despite massive price drops in recent days.
Meanwhile, BitPay's chief operating officer Sonny Singh last
week told Bloomberg he was confident that Bitcoin prices
would bounce back in 2019, hitting all-time highs. Singh
stated, “By the end of Q1 or Q2, Bitcoin will emerge as a viable
commodity.” He also said that an influx of “new players and
miners engaging in the industry” would help drive a new price
surge.
Meanwhile, a museum in the state has also begun allowing
cryptocurrency payments. As of earlier this month, visitors to
the Great Lakes Science Center in Cleveland can pay for
admission in Bitcoin .

Source : https://cryptonews.com