Ohio Wants to Exempt Cryptocurrency Tax on Transactions Up to $200

• Ohio proposes tax exemption for cryptocurrencies
• Bill could boost crypto payments
• Transactions under $200 would be exempt from tax

The Ohio House of Representatives has passed a bill that could significantly benefit cryptocurrency users in the state. The measure, called the Ohio Blockchain Basics Act (HB 116), lays down the exemption from capital gains taxes for cryptocurrency transactions below US$200, with the aim of encouraging the use of these digital assets in local commerce.

Ohio House Passes 'Bitcoin Rights' Bill with $200 Tax Exemption for Crypto Users

Ohio's House approved a bill providing a $200 capital gains tax exemption for small crypto transactions, eliminating reporting burdens on everyday crypto usage. The bill is expected to boost digital… pic.twitter.com/Iaw5GUtEOU

— Cryptemic News (@news_cryptemic) June 19, 2025

The project received 70 votes in favor and 26 against, one day after being approved by the Technology and Innovation Committee. It now goes to the state Senate for evaluation.

In addition to the tax exemption for small-value transactions, HB 116 also seeks to prevent local governments from imposing additional taxes on cryptocurrency payments for legal services. Another relevant measure is the protection for cryptocurrency mining companies, safeguarding them against excessive restrictions by local authorities.

Em release Officially, the House noted that the legislation aims to make it easier to use crypto as a means of payment for goods and services within Ohio. State Representative Steve Demetriou, the lead author of the bill, said:
“As digital commerce and privacy become even more important in the lives of Ohioans, it is crucial to ensure that the blockchain and digital asset industries can thrive not just anywhere, but right here in the Buckeye State.”

The initiative places Ohio among the states seeking to modernize their legal framework regarding cryptocurrencies, especially with regard to payments and the use of these technologies in the public sector.

In parallel, on the federal level, the US Senate recently approved a bill aimed at stablecoins, called the GENIUS Act. The proposal is awaiting analysis by the House of Representatives in Washington, which indicates a broader effort by the country to define clear rules for the crypto sector.