The Ohio House of Representatives has officially passed House Bill 116, also known as the “Bitcoin Rights” bill, marking a major step forward for crypto-friendly legislation in the state.
The bill received unanimous approval (13-0) from the House Technology and Innovation Committee and now heads to the Ohio Senate for final consideration.
Key Provision: $200 Capital Gains Tax Exemption
At the heart of the bill is a $200 state-level capital gains tax exemption for cryptocurrency transactions. Known as the “de minimis” exemption, this provision aims to eliminate the need for Ohio residents to report small capital gains from minor crypto purchases—such as buying coffee, tipping online, or making micro-payments.
By removing this administrative burden, the legislation is expected to encourage everyday crypto use and remove a key barrier to adoption.
Boosting Bitcoin Utility Across Ohio
Supporters argue that the measure will make digital assets more practical in daily life, reducing friction for both consumers and businesses. By aligning Ohio’s tax treatment of small crypto transactions with the reality of modern digital commerce, the bill could set a precedent for other states seeking to integrate Bitcoin and other cryptocurrencies into their economies.
If passed by the Senate and signed into law, Ohio would become one of the first U.S. states to implement a de minimis exemption for crypto, providing regulatory clarity and practical tax relief to its residents.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/ohio-house-passes-bitcoin-rights-bill-with-200-tax-exemption-for-crypto-users/