Ohio House Greenlights Blockchain Basics Act, Safeguarding Crypto Rights and Tax Relief

Ohio’s legislature has taken a major step toward establishing a crypto-friendly environment by passing the Blockchain Basics Act, a bill poised to protect digital asset rights, support miners, and offer tax exemptions for small transactions. The measure now heads to the State Senate, marking Ohio as a potential national leader in digital asset regulation.

Ohio Moves to Protect Digital Asset Use

The Ohio House of Representatives has approved the Blockchain Basics Act, a comprehensive piece of legislation designed to shield digital asset users and businesses from restrictive local policies. If enacted, the bill will prevent state and municipal authorities from limiting the use of cryptocurrencies for payments or curtailing the use of hardware and self-hosted wallets. With these provisions, individuals will be able to transact freely with digital assets without fear of government interference at any level.

Empowering Miners and Streamlining Regulation

The legislation introduces robust protections for both individual and commercial crypto miners. Residential mining will be explicitly permitted, provided it complies with existing local ordinances, and crypto mining companies will be secure in their ability to operate in industrial zones. The bill blocks local governments from rezoning mining-industrial areas without advance notice, public comment, and the opportunity for appeals, ensuring fairness and transparency for miners. Additionally, everyday participants engaged in mining, staking, asset trading, or blockchain node operations will be exempt from money transmitter and investment laws, lowering regulatory barriers to entry.

Key Stats & Figures

• House Vote: The bill passed with a decisive 68-26 majority in the Ohio House.
• Capital Gains Exemption: Crypto transactions valued under $200 will be exempt from capital gains taxes, simplifying tax obligations for small-scale users.
• Scope of Protection: State and local governments are barred from restricting crypto payments or the use of self-hosted wallets.
• Mining Rights: The law ensures protection for both residential and industrial crypto mining operations, provided local rules are upheld.

Ohio Sets National Example Amid Widespread Crypto Reform

The Blockchain Basics Act arrives at a time of accelerating crypto policy reform across the United States. Its advancement comes on the heels of the U.S. Senate’s recent passage of the GENIUS Act, which focused on stablecoin regulation. Neighboring states such as Kentucky have also passed laws supporting self-custody of Bitcoin and Ethereum, while others—including Arizona, Florida, California, Texas, and Wyoming—are actively considering similar legislative moves. Crypto advocacy groups have applauded Ohio’s approach, calling it a “clear signal” that lawmakers are recognizing the importance of rights and innovation in blockchain industries. The bill’s $200 tax exemption for crypto transactions has been hailed as a practical measure to encourage mainstream adoption.

Conclusion: What This Means for the Market

Ohio’s push to establish clear, protective policies for digital assets positions the state at the forefront of crypto-friendly legislation in the country. If the Blockchain Basics Act becomes law, it could serve as a blueprint for balanced regulation that supports innovation while offering practical protections and tax relief for users and businesses. The crypto sector will be closely watching Ohio’s Senate for the next steps—an outcome that could influence policy nationwide.