As bitcoin tanks, Ohio decides to let businesses use it for tax payments
You could be forgiven for having missed it.
Amidst a massive and ongoing decline in the price of bitcoin — the cryptocurrency saw a 40 percent loss of value over the last month alone — a small bit of good news has emerged for the decentralized faithful. Specifically, the state of Ohio announced it will allow businesses to use bitcoin for tax payments.
But don't get too excited: This option is presently still off limits for your average Joe Citizen.
What's more, you definitely shouldn't read this as some sort of government signal that the price is going to the moon. Ohio has zero plans to HODL. That's right, even though Ohio Treasurer Josh Mandel has made it possible for mom and pop shops to unload their unwanted crypto while simultaneously paying off their tax burdens, the state will not be left holding any bags. Read more...
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