Can you use crypto to pay Ohio state fees? You can now. Here's the latest
- Ohio has approved a vendor to begin accepting cryptocurrency for state fees and services.
- The Secretary of State's office aims to be the first state agency to implement the new payment option.
- Customers using cryptocurrency will pay a transaction fee, similar to using a credit card.
Need to pay state fees in Ohio? You may soon be able to pay using cryptocurrency.
Ohio Secretary of State Frank LaRose announced this week that the state's Board of Deposit selected a vendor, Grant Street Group, to facilitate cryptocurrency payments such as Bitcoin for state fees and services like setting up a new business or paying a Bureau of Motor Vehicles fee.
"There’s a reason why we now rank among the top five states in the nation to do business," LaRose stated in a Sept. 24 news release. "My office processes hundreds of thousands of financial transactions each year, and we’ve heard a growing demand for a cryptocurrency payment option. I’m excited and ready to be the first to provide it to our customers.”
Are we one step closer to state Bitcoin payments in Ohio? Here's what to know.
Ohio approves crypto vendor for state fees and service payments
LaRose, who said he owns about $10,000 in Bitcoin, has long expressed his goal to be the state's first adopter to accept Bitcoin for paying business filing fees, the Dispatch previously reported. Customers who use the crypto payment option would pay a transaction fee, similar to a credit card.
The process dates back to April, when Secretary LaRose and Ohio Treasurer of State Robert Sprague called on the State Board of Deposit to authorize cryptocurrency payments to pay state fees. The proposal passed with a unanimous vote by the board a month later, pending its approval of a vendor contract. It approved a vendor contract on Wednesday, Sept. 24.
“At this week’s Board of Deposit meeting, we took the next step to position Ohio as a leader in the digital currency space, authorizing a vendor to facilitate the acceptance of cryptocurrency as payment for state fees,” Sprague said in a statement. “After reviewing several proposals, I’m confident that Grant Street Group will be able to provide the security and service we need for Ohioans to be able to utilize the tools of modern finance.”
The Secretary of State’s office aims to become the first state agency in Ohio to accept fees using cryptocurrency, which processes nearly half a million payment transactions annually.
How to find Bitcoin ATMs in Ohio
According to AARP, there are more than 49,000 crypto ATMs in the U.S., with over 100 Bitcoin ATMs in Ohio, including several kiosks located in Cincinnati, Cleveland, Columbus, and Akron, the Columbus Dispatch previously reported.
Coin ATM Radar displays an interactive map of nearby locations and operators throughout Ohio and the country.
However, crypto ATMs can be prone to scams.
The Federal Trade Commission found that during the first six months of 2024 alone, consumers lost around $65 million to Bitcoin ATM kiosks; older adults over 60 were the most vulnerable. Scammers will impersonate a government official, tech support, or business and urge victims to remove cash fromt their bank accounts and instead deposit it into a Bitcoin ATM for added "protection."
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