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The state of Ohio has become today the first administration of United States accepting payments in Bitcoin. Cryptocurrency has not been supported by any government or financial institution.
The approval of this cryptocurrency as a new valid payment method in Ohio, comes just a week after the price of the Bitcoin fell 16% to its 2018 minimum, a period in which it decreased by 65%.
However, different companies in Ohio will now be able to pay their taxes (from the tobacco sales tax to the taxation of their employees) in this cryptocurrency. The only requirement is to register on the portal "OhioCrypto.com", according to local media.
The idea of accepting digital currency to pay for public costs came from State Treasurer, Josh Mandel. He considered that it was a "positive for the taxpayer" system and an "opportunity" for Ohio to subscribe to the adoption of these new terms of economic exchange.
"I see in the Bitcoin a legitimate currency, "defended Mandel in statements collected by The Wall Street Journal.
This cryptocurrency, the most used in purely digital payment systems, has no central bank or administrator and is based on a universal exchange protocol called "blockchain" or "blockchain".
This protocol works like an accounting and public book whose security lies in the fact that the information is shared between all its users and that it is difficult to falsify.
Although in its infancy, it raised high expectations and its value increased, many US government agencies, such as Securities and Exchange Commission (SEC), have advised against investing in this currency for reasons of "risk of fraud" and "speculation".
The European Banking Authority (EBA) also warned in 2013 about the lack of regulation and the volatility of the price of bitcoin.
Although the Ohio movement does not contribute to Bitcoin legal status, constitutes a precedent in the approval of cryptocurrencies as an official payment system.
This state will use a system to convert the currency into dollars once they reach its treasury, despite its commitment to validating a currency that is not used by the US government.
Currently a Bitcoin it equals $ 3,730, compared with a unit price of $ 9,401 a year ago.
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