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Ohio Treasurer Suspends Bitcoin Business Tax Payment Program

PYMNTS

The state of Ohio has decided to end its support for bitcoin tax payments, state Treasurer Robert Sprague announced this week. In a statement published on Sprague’s official website this week, the treasurer said “OhioCrypto.com,” the website that allows businesses to pay their taxes in cryptocurrency, would be suspended immediately.

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Crypto Fails To Impress For Corporate Tax Payments

PYMNTS

to allow businesses to pay their corporate taxes in bitcoin. In an interview with CNBC at the time, Ohio’s then-State Treasurer Josh Mandel said the initiative would increase “options and ease” for businesses, and support the local tech startup community.

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The Beginning Of The End For Bitcoin?

PYMNTS

Bitcoin has been riding a bit of a rollercoaster in the past few weeks since hitting an all-time high of more than $4,800 per digital coin on Aug. To continue the rollercoaster analogy, the cryptocurrency’s value has been on a steep climb all year, and it stands to reason that bitcoin’s skyrocketing value must eventually slow and reverse.

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Bitcoin’s Resplendent Week

PYMNTS

Milan, Italy was the host of a formal bitcoin conference to address scaling and a protest conference that addressed, well, everything that the formal conference didn’t. Scaling of bitcoin is a thorny issue and one that caused some dissension at the Scaling Bitcoin conference that took place on October 8 and 9.

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Genesis Molds Treasury Management For The Crypto World

PYMNTS

Ether, for instance, seems to have dropped in value, just as many organizations that had previously raised funds in Ether via ICO “cash out” so as to finance their operations and pay for expenses, Bloomberg said. This week, U.S. “Crypto is very different from the traditional startup world,” he said. ”

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Blockchain, Inc: A Look At The Ownerless Company Of Tomorrow

CB Insights

Through blockchain, companies could fundraise without stocks, operate without bank accounts, or pay employees without even knowing their names. Conventional wisdom dictates that startups should incorporate with taxes and stock options in mind. Bitcoin miners, for example, incur costs for electricity and computing rigs.

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Building A More Compliant Cannabis Industry With The Blockchain

PYMNTS

Payments for goods between suppliers, wholesalers and retail distributors are in cash; payments to employees are in cash; tax payments are in cash; even paying the power company and water bill are contingent on cash. And so, when we talk to the community, we are seeing a lot of demand of a different solution that provides more function.”. “The