A bill introduced in the Ohio House of Representatives urges government entities to adopt blockchain, the technology underpinning bitcoin. Republican state representative, Mr. Rick Carfagna sponsored the bill. The legislation, called House Bill 220, is a part of Ohio’s plan to provide a legal framework for distributed ledger technology such as blockchain. The legislation would enable the establishment of a decentralized online record for transactions such as car titles or hunting licenses, according to Cleveland.com. Ohio has been making strides to become more crypto-friendly as part of a major effort to woo tech entrepreneurs to transform the state into a blockchain hub. In August 2018, Governor John Kasich signed a bill that recognized the use of blockchain-based transactions as having legal bearing in a court of law. The bill made Ohio one of the first U.S. states to provide legal protection to companies developing new uses for blockchain. In November, Ohio became the first US state to allow businesses to pay taxes using bitcoin. The state government partnered with crypto payment processor BitPay to manage the payments in crypto and conversion to dollars. The idea was the brainchild of Ohio’s Republican state treasurer, Mr. Josh Mandel, a cryptocurrency fan who says bitcoin is “a legitimate form of currency.” Then, in April 2019, Ohio’s Republican Congressman, Mr. Warren Davidson — an avowed bitcoin fan — introduced federal legislation that would exempt cryptocurrencies and ICOs from US securities laws. As CCN reported, the Token Taxonomy Act would amend the Securities Exchange Act to specifically exclude cryptocurrencies from securities laws.
International eGov Update
Pro-Bitcoin Ohio Bill promotes government adoption of blockchain
From July 2019 • Informatics, National Informatics Centre