Ohio now accepts bitcoin for tax payments. What could go wrong?
This week, Ohio became the first state in the US to allow businesses to pay taxes in bitcoin—well, sort of.
Although crypto enthusiasts celebrated the news as a sign of government adoption, the reality of the situation is underwhelming, and potentially even worrisome. Ohio’s new payment option seems like a solution in search of a problem and one driven less by a desire to serve taxpayers, and more about grabbing some of the sizzle that comes with all things blockchain and crypto.