Treasurer Rober Sprague stated that at least two companies have paid taxes using the digital currency Bitcoin. The U.S. state of Ohio released a cryptocurrency payment platform last December. The treasurer did not disclose any information about the companies or the amount of taxes paid – it is confidential information. Robert stated:
We are reviewing how the platform might be adapted or expanded and what our counter-party risk is with our vendor
The state of Ohio became the frist American state to accept cryptocurrency as a means of payment for taxes. The Ohio state government doesn’t hold Bitcion, the company – Bitpay – receives the Bitcoin and converts it into dollars before sending it to the government. The company takes a 1% commission fee.
The platform intends to improve doing business in Ohio and the government uses the platform to attract new business to Ohio. The state government want to change the state into a major center for cryptocurrency and blockchain technology.