Crypocurrency News

Ohio Can No Longer Pay Tax In Bitcoin.

Ohio Treasurer Robert Sprague announced on October 2, that Ohio will no longer accept taxes in Bitcoin following the suspension of website which enabled taxes to be paid in Cryptocurrency.

The system is reported to have been brought up by Ohio former Treasurer Josh Mandel which was planned to support the development of crypto-related business and urging institutions to acknowledge cryptocurrencies as a method of payment.

Sprague said he believes it’s possible the payment-processing contract to run should have been competitively bid under state law, “Until a formal opinion is issued by the Attorney General, I feel it is prudent to suspend the website,” he added.

Robert stated that since the introduction of the Ohiocrypto. com website, the state has received less than 10 tax payments from businesses.

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