The first state in the U.S. to accept tax payments in the global market’s top cryptocurrency, Bitcoin, will be Ohio. The Wall Street Journal shared that starting this week, businesses that will be making settlements with their taxes, can now pay with Bitcoin. Digital asset payment processing company, BitPay, has teamed up with Ohio’s state government to facilitate the payment conversions for the tax office. Josh Mandel who is Ohio’s state Treasurer, created this idea and he is a firm believer that this will be a concrete and successful way to rebrand the state and promote tech-forward ideas. A lot of states are nervous in accepting crypto payments because of the market’s volatility. Ohio’s decision has not really affected current prices in the cryptocurrency market, however it is still a great feat for Bitcoin as it is the first partnership with the U.S. government. This proves a point that Bitcoin can be used by anyone, whether or not people are using it for bad things or if it is being used by the U.S. government.
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