Ohio is positioning itself as a forward-thinking hub for digital assets. Representative Steve Demetriou is leading a new initiative aimed at making the Buckeye State more welcoming to cryptocurrency and blockchain innovation.
Following the recent passage of House Bill 116, which exempts small cryptocurrency transactions from state tax obligations, Demetriou is now introducing a bold new proposal: creating a state-level Bitcoin reserve.
Ohio Strategic Cryptocurrency Reserve Act
Demetriou’s new legislation, House Bill 18, also known as the Ohio Strategic Cryptocurrency Reserve Act, would authorize the state treasurer to invest up to 10% of Ohio’s public funds into major cryptocurrencies. While the bill leaves room for multiple digital assets, Bitcoin is the primary focus due to its established market dominance and potential as a long-term investment.
The bill positions Ohio as a pioneer in the public adoption of digital assets — a move that could signal confidence in cryptocurrency at the state level and potentially attract blockchain startups and fintech firms to Ohio.
Educating the Public and Building Bipartisan Support
Representative Demetriou stresses the importance of public education and bipartisan collaboration to ensure the success of digital asset legislation. He believes these technologies are more than a trend — they represent a foundational shift in the global economy.
By proactively creating laws that protect cryptocurrency users and promote innovation, Demetriou hopes Ohio will be seen as a national leader in digital finance. “We’re not just chasing headlines,” he says. “We’re laying the groundwork for Ohio’s economy to thrive in the digital age.”
With growing momentum and recent policy wins, Ohio is clearly taking serious steps toward becoming one of the most crypto-friendly states in the U.S.
