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Ohio will accept Bitcoin for tax bills →

November 26, 2018

The Wall Street Journal:

Beginning this week, Ohio businesses will be able to go to the website OhioCrypto.com and register to pay everything from cigarette sales taxes to employee withholding taxes with bitcoin. Eventually, the initiative will expand to individual filers.

I have mixed feelings about this.

  • PR-wise, this move by Ohio’s state government does add a layer of legitimacy to Bitcoin, and the importance of this can’t be understated. On the other hand, payments made in Bitcoin will be sent to BitPay to be converted to USD – the only legal tender in the United States.
  • Utility-wise, I don’t think this development brings anything new to the table. However, I suppose it does make the whole process easier for people who want to pay taxes with Bitcoin.
  • This system is the perfect tool to link Bitcoin addresses to physical identities. Big Brother, are you there?

Questions?

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