Ohio Advances Blockchain Basics Act in Landmark Move for Crypto Rights

Ohio is poised to make crypto history as its House of Representatives moves the Blockchain Basics Act to the state Senate. The ambitious bill paves the way for robust digital asset rights and sets a precedent for clear, user-focused crypto regulation in the United States.

State Moves to Protect Digital Asset Usage and Participation

In a decisive 68-26 vote, Ohio’s House has propelled House Bill 116 forward, signaling strong commitment to fostering cryptocurrency innovation and safeguarding user rights. The bill, if signed by Governor Mike DeWine, would ensure that neither state nor local authorities can impede the use of digital assets as payment methods. It would further cement the right of Ohioans to utilize hardware and self-hosted wallets, free from governmental interference—a significant affirmation for proponents of crypto self-custody.

Clear Guidelines for Crypto Mining and Zoning

The Blockchain Basics Act provides clarity and support for crypto miners as well. Residential digital asset mining would be permitted, though still subject to local ordinances. Commercial mining operations would have a green light in industrial zones if they comply with existing regulations. Notably, the bill prohibits local governments from rezoning mining locations without offering advance notice and opportunities for public comment, and grants mining businesses legal recourse against unjust zoning actions. This framework aims to legitimize mining while balancing community interests.

Key Stats & Figures

• House Passage: 68-26 vote in favor of advancing House Bill 116.
• Capital Gains Exemption: Digital asset transactions under $200 are exempt from capital gains taxes.
• Civil Liberties: Bill specifically prohibits state/local interference with self-hosted wallets.
• Zoning Protections: Mining businesses have rights to notice, comment, and appeal against discriminatory zoning changes.

Bill Shields Crypto Participants from Outdated Regulations

House Bill 116 notably exempts individuals engaging in core crypto activities—mining, staking, digital asset transactions, and running blockchain nodes—from being classified as money transmitters or investment advisers under state law. This means everyday participants and small operators sidestep stringent, potentially ill-fitting regulatory burdens. The bill’s introduction and legislative progress reflect a growing wave in the U.S. toward sensible, innovation-friendly crypto frameworks—a trend highlighted by recent regulatory movements both at the state and federal levels, like the passage of stablecoin reform in the U.S. Senate and Kentucky’s actions on self-custody rights.

Conclusion: What This Means for the Market

Ohio’s Blockchain Basics Act, now headed to the Senate, sets a benchmark for other states by prioritizing both user protections and industry growth. If adopted, Ohio could become a model for effective, forward-looking crypto regulation nationwide—potentially attracting investment, encouraging responsible innovation, and empowering individuals across the digital asset economy.

Ohio stands at the forefront of U.S. crypto policy with comprehensive protections for users, miners, and blockchain innovators. With mounting legislative momentum across the country, the Buckeye State’s actions may signal the dawn of a new era for state-level digital asset law.