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Ohio Representative Steve Demetriou is championing a new push to make the state more crypto-friendly. Following the passage of House Bill 116 last week, which exempts small crypto transactions from tax burdens, Demetriou aims to establish a state Bitcoin reserve.
Demetriou’s House Bill 18 — known as the Ohio Strategic Cryptocurrency Reserve Act — would allow the state treasurer to invest up to 10% of public funds in top cryptocurrencies. Though broad in scope, the bill currently favors Bitcoin as the most viable asset for long-term state investment.
Demetriou emphasized the need for public education and bipartisan support for digital asset legislation. He believes digital assets will shape the future economy — and aims to keep Ohio ahead of the curve with common-sense laws protecting owners and encouraging innovation.
