Ohio approves vendor to process crypto payments for state services
News Summary
Ohio's State Board of Deposit has unanimously approved its first vendor to process digital asset transactions, making it the fourth U.S. state to authorize cryptocurrency payments for state fees, following Colorado, Utah, and Louisiana. This development builds on a proposal designating cryptocurrencies as an authorized financial transaction device, which was also passed unanimously by the board in May 2025. Secretary of State Frank LaRose welcomed the decision, stating it will help Ohio maintain its position as a top state for business and expressing his office's readiness to be the first to provide this option, citing growing demand for crypto payments among hundreds of thousands of annual transactions. Furthermore, LaRose, along with Ohio Treasurer Robert Sprague, supports House Bill 18, which seeks to create an Ohio Strategic Cryptocurrency Reserve, a separate initiative from a Bitcoin reserve proposal introduced in December 2024.
Background
Ohio's recent approval of a cryptocurrency payment vendor builds on a proposal unanimously passed in May 2025, which designated cryptocurrencies as an authorized financial transaction device. This makes Ohio the fourth U.S. state to permit cryptocurrency payments for state services, following Colorado, Utah, and Louisiana, which passed similar legislation earlier this year. Secretary of State Frank LaRose has been a key proponent of Ohio's crypto adoption, advocating for the creation of an Ohio Strategic Cryptocurrency Reserve through House Bill 18, which would be distinct from the state's Bitcoin reserve proposition introduced in December 2024.
In-Depth AI Insights
What are the deeper implications of proliferating state-level crypto payments for the federal regulatory framework? - The adoption of crypto payments at the state level exacerbates the fragmented regulatory landscape for digital assets in the U.S., potentially pressuring the federal government to accelerate the development of a unified framework to prevent