Key Takeaways:
- Ohio House passes HB 116 to exempt crypto transactions under $200 from capital gains tax and protect mining rights.
- The bill removes licensing for core blockchain activities and affirms the right to self-custody crypto assets.
- It prohibits discriminatory regulations on crypto mining and local bans on crypto payments.
The Ohio House of Representatives has passed House Bill 116, the Ohio Blockchain Basics Act, by a 70-26 vote.
The bill seeks to provide legal clarity and protections for a variety of cryptocurrency activities.
Ohio just CHANGED the game for Bitcoin
— borovik (@3orovik) June 18, 2025
you can now SPEND your Bitcoin TAX FREE
you can spend up to $200 PER transaction on anything in Ohio, without owing taxes!
imagine paying for dinner at a restaurant with Bitcoin, and not having to pay capital gains taxes
BULLISH pic.twitter.com/XDDE5KqFlV
It exempts crypto transactions under $200 from capital gains tax, with the threshold indexed to inflation and shielded from reductions by the tax commissioner.
The bill also prohibits state and local governments from restricting crypto payments.
Representative Steve Demetriou, the bill’s sponsor, emphasized its focus on supporting crypto adoption and protecting digital asset mining.
The legislation permits residential and industrial crypto mining, provided local regulations are followed.
It also protects mining businesses from discriminatory zoning and allows legal recourse if unfairly targeted.
🚨 Ohio House passes Blockchain Basics Act 🏛️
— CryptoPotato Official (@Crypto_Potato) June 19, 2025
✅ $200 crypto tax exemption
✅ Protects self-custody wallets
✅ Shields mining from unfair zoning laws
✅ Excludes miners/stakers from money transmitter regs
Ohio wants in on the future. Senate up next. 👀 pic.twitter.com/aogfI0F6CP
HB 116 removes licensing requirements for core blockchain functions that don’t involve fiat, including mining, staking, and node operation.
It clarifies that such services do not constitute securities offerings, directly addressing federal regulatory disputes.
Additionally, the bill affirms Ohioans’ right to self-custody using hardware or self-hosted wallets.
This move reflects a broader state-level push for crypto regulation, with 160+ crypto bills introduced nationwide.
A separate bill proposing an “Ohio Bitcoin Reserve Fund” is also under consideration.
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