Tax of labor. Thus becoming the first state in the United States - and one of the first in the world - to accept payments for digital currencies.
So far, there have been concerns that fortification will not become an appropriate means of making payments, it was considered as a store of value. Opponents also called the plot as slow and costly.
However, the moves by the Ohio Treasurer's Office directly addressed these criticisms. By using the BitPay payment service, Ohio now offers the form of payment as a means of paying state taxes.
According to the Ohio Treasurer's website, there will be twenty-three types of business taxes available for payment in digital currencies, including utility tax, sales tax and employee taxes. The website also states that the state adopts digital currency payments because it is safe, transparent and low cost.
"Digital currencies can not be transferred to third parties without the user's initiative, thus practically eliminating fraud; anyone can view all transactions on the blockbuster network; The minimum transaction confirmation fee will be charged to the "
The payment option will not only be available to the developer, the website says, as the cashier's office looks forward to adding more digital currencies in the future.
In addition, the state is looking forward to becoming a foothold as a technology hub, with the Treasurer's Office stating that they are working to make Ohio a leading US technology solutions provider.
Ohio's digital currency is a prediction of things to come. The use of bit ...
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Since the USD has nothing solid to support it, adopting another viable asset class makes perfect sense.