KMK Law Corporate & Securities Blog

Despite a cloud of perceived volatility in value and a stringent regulatory environment at the SEC, cryptocurrencies are still making strong progress toward mainstream use. Beginning on November 26, 2018, Ohio became the first U.S. state to accept Bitcoin for tax payments in an effort to become a national leader in blockchain technology. Initially, Ohio will only allow businesses to use Bitcoin to pay for taxes, but this offering may eventually expand to individual filers. Moreover, the Ohio State Treasurer has expressed an interest in expanding this process to other cryptocurrencies.