In June 2025, Ohio's House of Representatives passed the Ohio Blockchain Basics Act, aiming to regulate digital assets. (Source: Reuters, June 17, 2025) The bill seeks to prevent local governments from restricting digital assets as payment and offers tax exemptions for transactions under $200. The bill moved to the state Senate after a 68-26 vote.
Simultaneously, on June 17, 2025, the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. (Source: Reuters, June 17, 2025) This bipartisan bill establishes a federal regulatory framework for stablecoins, requiring them to be backed by liquid reserves. The legislation now awaits approval in the House of Representatives.
These actions reflect a growing trend toward clear regulatory frameworks for digital assets. The Satoshi Action Fund praised Ohio's bill, highlighting the $200 capital gains exemption. The crypto industry is closely watching these developments for their impact on operations and compliance.