Yeliz Akmaca 
The Ohio House of Representatives has passed a groundbreaking bill for crypto investors and miners. Bill No. 116, dubbed the “Ohio Blockchain Basics Act,” passed the House with a vote of 70 to 26. With this development, all crypto transactions under $200 will be exempt from capital gains tax.
The law not only facilitates transactions but also provides strong legal safeguards by exempting crypto mining and staking activities from licensing requirements. State agencies will not be allowed to prevent citizens from using their own wallets or making payments with cryptocurrencies.
The bill, which passed the Technology and Innovation Committee with a bipartisan 13-0 vote, will next be sent to the Senate before being submitted to Governor Mike DeWine for final approval.
Legal Protection for Crypto Mining and Staking
The bill permits individuals to mine cryptocurrencies in residential areas as long as they comply with noise regulations. In industrial zones, there will be no restrictions on mining activities. Furthermore, state authorities will not be able to impose specific limitations on such operations.
The bill eliminates the requirement for money transmission licenses for numerous activities that help run blockchain systems. Activities such as crypto mining, staking, and operating blockchain nodes will not require licenses on these grounds. The exchange of digital currencies, along with the development and distribution of software that supports these operations, will also be included in this scope.
It also prohibits any legal barriers to the use of crypto wallets and software development activities. At a time when federal pressure is mounting, Ohio is emerging as one of the most crypto-friendly states. Additionally, businesses engaged in such activities will not be presumed to offer securities or investment contracts. The use of crypto wallets—whether hardware-based or self-hosted—will also be protected from restrictions by state agencies.
Ohio is also considering another bill that aims to establish a “Bitcoin Reserve Fund.” States like Arizona, New Hampshire, Florida, and Texas are taking similar steps. The U.S. Senate recently passed the historic GENIUS Act. While Ukraine is preparing to establish a Bitcoin reserve, Pakistan is also exploring similar measures.
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