Ohio has become the latest US state to formally integrate cryptocurrency into public finance.
Key Takeaways:
Ohio has approved a vendor to process crypto payments for state fees, including Bitcoin. The move is part of a broader push, including a proposed Strategic Crypto Reserve and pro-crypto legislation. Ohio joins 47 other states exploring Bitcoin reserve strategies, with several already advancing similar measures.On Wednesday, the Ohio State Board of Deposit unanimously approved a vendor to process crypto payments, including Bitcoin, for official state fees and services.
The decision follows a months-long effort led by Secretary of State Frank LaRose and Treasurer Robert Sprague, who initially proposed the measure in April.
Ohio Finalizes Crypto Payment Plan with Vendor Approval
While the board had voted to authorize crypto payments back in May, final approval of the vendor had remained pending until this week.
“With hundreds of thousands of transactions going through my office each year, I want to commend the board for taking bold action to position us at the forefront of the emerging digital economy,” LaRose said on social media.
Ohio’s move comes amid rising demand for crypto payment options, particularly for government-related transactions. “I’m excited and ready to be the first to provide it to our customers,” LaRose added.
Coinbase’s Chief Legal Officer Paul Grewal responded to the news, tweeting, “It’s happening. Government payments in Ohio today. Everything onchain tomorrow.”
The vendor approval is just one part of Ohio’s broader push into digital assets. In June, lawmakers advanced the Ohio Blockchain Basics Act, which blocks local governments from restricting crypto use and exempts transactions under $200 from capital gains taxes.
LaRose also supports House Bill 18, a measure that would establish an Ohio Strategic Crypto Reserve, funded by a portion of the state’s investment earnings.
He has publicly cited the work of President Donald Trump’s Working Group on Digital Asset Markets, which aims to establish the U.S. as the global leader in crypto innovation.
Ohio joins a growing number of states exploring Bitcoin reserve strategies. According to Bitcoin Laws, 47 states have introduced similar bills, with 26 still active.
States like Arizona, Texas, and New Hampshire lead the charge, while others remain stalled in committee.
Michigan Revives Bitcoin Reserve Bill Amid Growing Global Momentum
Michigan has revived House Bill 4087, which would allow up to 10% of state funds to be allocated into Bitcoin and other crypto assets.
The bill, introduced in February, cleared key hurdles and is now headed to the Government Operations Committee.
If passed, Michigan would join states like Texas, New Hampshire, and Arizona in embracing Bitcoin as a strategic reserve.
The move comes as more than 25 U.S. states explore similar proposals, and the U.S. House considers a federal study into the feasibility of a national Bitcoin reserve.
Supporters argue it could strengthen financial resilience, while critics warn the state may be buying near market highs. The bill’s progress could increase pressure on neighboring states to act.
Globally, the momentum is also growing. Pakistan has announced plans to launch a Strategic Bitcoin Reserve backed by 2,000 MW of energy for mining and AI centers.
The Philippines has introduced a bill for a long-term Bitcoin reserve, while El Salvador is diversifying by adding gold to its national holdings alongside Bitcoin.
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