New cryptocurrency law in Ohio: Protecting the freedom of ownership and mining
Key information about bill HB 116
On June 18, the Ohio House Committee on Technology and Innovation voted unanimously with 13 votes in favor for bill HB 116. This legislation holds significant meaning in the cryptocurrency field, focusing on protecting individual autonomy in managing their digital assets.
The right to self-custody of digital assets
The bill emphasizes individuals' rights to self-custody of cryptocurrencies without the need for a third-party intermediary. This law aims to promote mining and operating blockchain nodes, facilitating creators and energy mining companies.
Special tax incentives and economic benefits
Not only does it protect ownership rights, HB 116 also exempts profit tax from cryptocurrency transactions, specifically exempting $200 for each conversion of digital assets. This policy helps promote the development of the investor community and businesses in the blockchain industry in Ohio.
The impact of the new law on the cryptocurrency community
The enactment of the new law will establish a friendlier legal environment, minimizing legal risks and increasing transparency in cryptocurrency mining and trading activities. This is also seen as a significant step for Ohio to become the blockchain and digital technology hub of the region.
The future development of Ohio's blockchain market
With the support of the state government, cryptocurrency projects in Ohio are expected to grow rapidly. Domestic and international investors will have more opportunities to tap into the potential of this market than ever before, contributing to consolidating the state's position in the global blockchain community.
Source: https://tintucbitcoin.com/ohio-hop-phap-hoa-bitcoin-qua-lb-116/
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