Ohio Pushes Pro-Bitcoin Legislation with HB 116
On June 17, Ohio took a significant step toward embracing the future of digital assets. The state’s House Technology Committee unanimously passed the Ohio Blockchain Basics Act (HB 116), signaling a strong, bipartisan commitment to fostering blockchain innovation and protecting the rights of crypto users and entrepreneurs.
This landmark legislation now moves to the next phase of legislative review, but its implications are already being felt across the blockchain and Bitcoin mining industries.
What Is HB 116?
The Ohio Blockchain Basics Act (HB 116) is a sweeping piece of legislation that introduces clear legal definitions and protections for individuals and businesses operating in the blockchain space. At its core, the bill aims to create a safe and predictable regulatory environment for:
Bitcoin miners
Node operators
Self-custody users
Small businesses that accept Bitcoin
Among its most notable provisions is the recognition of the right to mine Bitcoin and run decentralized nodes, shielding operators from discriminatory regulations or zoning restrictions.
The “De Minimis” Exemption: A Game-Changer for Everyday Crypto Use
One of HB 116’s most groundbreaking features is a “de minimis” tax exemption for small crypto payments. If passed into law, the bill would exempt Bitcoin transactions under $200 from capital gains taxes.
This provision removes one of the biggest barriers to widespread adoption: the tax complexity of using Bitcoin for everyday purchases.
Imagine buying a cup of coffee or groceries with Bitcoin—without worrying about tracking capital gains on every transaction. That’s what this bill would make possible in Ohio.
Aligning with a National Trend
Ohio is not alone in this effort. Similar “de minimis” tax reform proposals are gaining momentum in Congress and in other crypto-forward states like Wyoming and Texas. However, Ohio’s bill is unique in that it pairs tax reform with strong protections for infrastructure-level activities like mining and node operations.
Part of a Broader Pro-Crypto Legislative Package
HB 116 is just one of three crypto-related bills currently under review in Ohio. The other two—HB 18 and SB 57—propose that the state establish reserves of Bitcoin and other digital assets.
This would mark a bold move for a state government, aligning public coffers with the long-term value proposition of decentralized finance.
Together, these bills indicate that Ohio is positioning itself as a hub for Bitcoin innovation, investment, and infrastructure.
Why It Matters
For Bitcoin miners, this legislation is a green light to build and expand operations in Ohio without fear of regulatory backlash. For developers and entrepreneurs, it’s a signal that the state recognizes the importance of self-custody and the freedom to transact. And for the average citizen, it could mean using Bitcoin as digital cash just got a whole lot easier.
Final Thoughts
If enacted, the Ohio Blockchain Basics Act could set a national precedent for how states support the digital economy. By combining tax clarity, individual rights, and infrastructure protection, Ohio is making a bold bet on Bitcoin—and on the freedom to innovate.
As the bill moves forward, stakeholders across the crypto ecosystem should keep a close eye on Ohio. The future of Bitcoin-friendly regulation might just be starting in the Buckeye State.