Ohio Fast-Tracks Blockchain Basics Act: House Greenlights Major Crypto Protections

Ohio is poised to reshape its digital asset landscape after the House of Representatives overwhelmingly backed the Blockchain Basics Act, a bill that seeks to solidify protections for crypto holders, miners, and blockchain enthusiasts statewide.

House Votes for Sweeping Crypto Rights in New Bill

Following a decisive 68-26 vote, Ohio’s House has advanced House Bill 116, known as the Blockchain Basics Act, toward state Senate consideration. If enacted, the bill will safeguard the right to use digital assets for payments, prevent authorities from restricting access to personal crypto wallets, and set clear boundaries that favor crypto mining activities in both residential and industrial zones.

Key Protections for Users, Miners, and Businesses

The proposed law bars state and local governments from interfering with self-custodied wallets or limiting digital assets as a payment method. Home-based mining would be permitted, provided local rules are followed, while businesses can mine in approved industrial zones. The legislation also protects mining enterprises from abrupt zoning changes, mandating public notification and appeal rights for any discriminatory actions.

Regulatory Clarity and Capital Gains Relief

Individuals engaged in activities like mining, staking, and asset exchange will no longer fall under money transmission, securities, or investment statutes under the Act. An impactful provision offers a capital gains exemption on crypto transactions valued under $200, reducing bureaucratic hurdles for everyday users and streamlining compliance.

Key Stats & Figures

• House Approval: Passed with a 68-26 majority in the Ohio House of Representatives
• Capital Gains Exemption: Applies to crypto transactions below $200 in value
• Mining Provisions: Legalizes residential mining (subject to local ordinances) and allows industrial crypto mining with zoning protections
• Bill Timeline: First introduced in February; advanced from the House Technology and Innovation Committee before full House approval

Echoes of National Reform and Industry Praise

Ohio’s move comes on the heels of the U.S. Senate passing the GENIUS Act in Washington, reflecting a year of intensifying debate and maturation in digital asset regulation nationwide. Lawmakers in states like Kentucky, Arizona, Florida, California, Texas, and Wyoming are considering similar protections for crypto users. Industry advocates, including Dennis Porter of the Satoshi Action Fund, lauded Ohio’s House for sending a “clear signal” in support of innovation and user rights, emphasizing that the $200 exemption is a practical win for everyday Bitcoin users navigating complex tax rules.

Conclusion: What This Means for the Market

Ohio is on track to become a frontrunner among states providing regulatory certainty and robust protections for crypto innovation. As the Blockchain Basics Act heads to the state Senate, the bill could soon serve as a model for balancing technological progress with sound legal safeguards, and position Ohio as a national beacon for blockchain and digital asset policies moving forward.