tl;dr
Ohio’s House of Representatives passed House Bill 116, the Ohio Blockchain Basics Act, with a 68-26 vote. The bill aims to protect digital asset users and industry participants by prohibiting state and local governments from restricting digital asset payments or interfering with hardware and self-ho...
Ohio’s House of Representatives has passed House Bill 116, known as the Ohio Blockchain Basics Act, with a 68-26 vote, marking a significant step toward protecting crypto users and miners in the state. The bill prohibits state and local governments from restricting digital asset payments or interfering with hardware and self-hosted wallets, ensuring user control over their digital assets.
HB 116 allows residential digital asset mining subject to local rules and enables mining businesses to operate in industrial zones under existing regulations. Furthermore, it provides protections against discriminatory zoning actions, requiring proper notice and offering appeal rights to affected mining businesses. The bill also exempts individuals engaged in mining, staking, exchanges, or blockchain node operations from money transmitter, security, and investment laws.
A particularly notable provision is the exemption of crypto transactions valued under $200 from capital gains tax, simplifying tax concerns for everyday users. Sponsored by Rep. Steve Demetriou, the legislation now advances to the state Senate for further consideration.
This development comes amid broader national momentum on crypto regulation, following the U.S. Senate's recent stablecoin reforms under the GENIUS Act and several state-level initiatives, such as Kentucky’s Bitcoin and Ethereum Self-Custody Law. Advocates like the Satoshi Action Fund have praised Ohio's move as a strong step toward safeguarding industry rights and fostering innovation.
Rep. Demetriou expressed optimism that Ohio’s bill would position the state as a pioneer in creating a sensible regulatory framework for blockchain technology and digital assets, highlighting the state's readiness to embrace the future economy. As other states including Arizona, Florida, California, Texas, and Wyoming consider new crypto regulations, Ohio may soon join the forefront of progressive digital asset policy in the United States.
The bill's passage reflects shifting legislative tides toward recognizing and protecting the rights of crypto participants while promoting growth and innovation in this emerging sector. If signed into law by Governor Mike DeWine, Ohio will set a precedent for balancing regulatory oversight with industry freedom and user empowerment in the digital age.