Ohio Accepts Cryptocurrency Payments for Business Filings
Ohio has become the first state to accept cryptocurrency as a form of payment for business filings and fees. The state's Secretary of State, Frank LaRose, announced that his office will now accept credit cards, checks, and cryptocurrency for all types of transactions.
'Ohioans expect government services to keep pace with the technology they use every day,' LaRose said in a press conference. He believes that Ohioans have accepted cryptocurrency as a legitimate form of currency and want to use it.
LaRose's office is currently the only one accepting cryptocurrency, but the Ohio Department of Natural Resources may soon follow suit. Treasurer Robert Sprague has worked with LaRose to implement this change and believes it will make Ohio one of the most advanced states in case of a recession.
However, not everyone is on board with this decision. Michael McGovern, president of Innovation Ohio, expressed concerns about the volatility of cryptocurrency prices, saying 'You never really know with the volatility of what those prices are.' He warned that payments could be hard to calculate and may not be safe for the state's finances.