House Bill 18 allows the state of Ohio to invest in cryptocurrencies without specifying particular coins, promoting flexibility in investment choices. Supporters believe this initiative can enhance portfolio diversification and investment returns, cementing Ohio as a potential leader in state-level crypto investments.
The bill provides that the state Treasurer will manage these new investment strategies, which could also involve state retirement systems. With bipartisan backing following the successful passing of House Bill 116, which exempts small crypto transactions from taxes, the future of HB 18 looks promising.
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