Ohio SB57 establishes the Ohio Bitcoin Reserve Act, authorizing investment in bitcoin and acceptance of cryptocurrency payments for state expenses.
Ohio SB57, known as the Ohio Bitcoin Reserve Act, authorizes the investment of state funds in bitcoin and requires state entities to accept cryptocurrency payments for state expenses. The bill creates the Ohio Bitcoin Reserve Fund in the state treasury, managed by the treasurer of state. It mandates the conversion of accepted cryptocurrency to bitcoin and its transfer to the reserve fund. The bill also allows for the acceptance of bitcoin donations and establishes a recognition program for significant contributors.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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