Ohio First State to Accept Bitcoin: Calling Crypto Secure, Transparent, and Low Cost

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Beginning Nov. 26, Ohio will begin accepting Bitcoin payments for twenty-three kinds of business taxes. The state will become the first in the United States–and one of the first governments in the world–to accept cryptocurrency. Up until now, there have been concerns that Bitcoin would not become a suitable means for conducting payments, instead, describing…

Congress Pressures IRS to Issue Better Tax Guidelines for Cryptocurrency

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In a letter sent from the House Ways and Means Committee on Wednesday, U.S. lawmakers are calling on the Internal Revenue Service (IRS) to issue more specific guidelines for taxes on digital assets. The letter lays out exactly what questions the Committee wants to be answered, with a  deadline of “no later than Oct. 17,…