Ohio has become the third US state behind Texas and Pennsylvania to see bills introduced to establish Bitcoin reserves as part of the state’s treasury.
An Ohio House of Representatives lawmaker has introduced a bill to establish a Bitcoin fund in the state’s treasury, marking the third US state to do so in just over a month.
Ohio House Republicans leader Derek Merrin on Dec. 17 introduced HB 703, tentatively titled the Ohio Bitcoin Reserve Act, which would give the state treasurer authority to purchase Bitcoin as part of “proper asset allocation,” though it does not require it.
“The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation,” Merrin said in a statement. “Ohio must embrace technology and protect tax dollars from eroding.”
