Trump Family Profits from World Liberty Crypto Initiative
The Trump family has reportedly earned approximately $5 billion through their involvement with World Liberty Financial’s $WLFI token, raising significant ethical questions regarding their financial dealings in the cryptocurrency space.
Ohio Moves to Accept Cryptocurrency for State Fees
Ohio has taken a significant step towards modernizing payment options by approving a vendor to accept cryptocurrency for state fees and services. The Secretary of State’s office is set to become the first state agency to implement this innovative payment solution. Users opting for cryptocurrency transactions will incur a fee, akin to credit card charges.
Ohio’s New Cryptocurrency Payment Option for State Fees
In an announcement made this week, Ohio Secretary of State Frank LaRose revealed that the state’s Board of Deposit has chosen Grant Street Group as the vendor to enable cryptocurrency payments, including Bitcoin, for various state fees and services, such as business registration and Bureau of Motor Vehicles transactions. “We rank among the top five states for business because we listen to the needs of our constituents,” LaRose stated in a news release on September 24. “My office handles hundreds of thousands of financial transactions annually, and we’ve recognized a rising demand for cryptocurrency payment options. I’m thrilled to be the first to offer this service.”
Progress Towards State Bitcoin Payments in Ohio
This week, the State Board of Deposit reached a unanimous decision to authorize a vendor for processing cryptocurrency payments for state-related fees and services. LaRose expressed gratitude for the board’s decisive action, emphasizing the high volume of transactions processed by his office each year.
LaRose’s Vision for Cryptocurrency Adoption in Ohio
LaRose, who has publicly stated that he owns approximately $10,000 in Bitcoin, has been an advocate for Ohio to become a pioneer in accepting Bitcoin for business filing fees. Customers choosing this crypto payment option will face transaction fees comparable to those of credit card payments. The initiative traces back to April when LaRose and Ohio Treasurer Robert Sprague urged the State Board of Deposit to allow cryptocurrency payments for state fees. The board unanimously approved the proposal a month later, contingent on vendor contract approval, which was granted on September 24.
Ohio Aims to Lead in Digital Currency Adoption
In a statement following the Board of Deposit meeting, Sprague highlighted the importance of positioning Ohio as a frontrunner in embracing digital currencies by authorizing a vendor to facilitate cryptocurrency payments for state fees. “After thoroughly reviewing several proposals, I am confident that Grant Street Group will provide the necessary security and service for Ohioans to engage with modern financial tools,” he said. The Secretary of State’s office aims to be the first agency in Ohio to accept cryptocurrency payments, managing nearly half a million transactions each year.
Finding Bitcoin ATMs Across Ohio
According to AARP, the United States is home to over 49,000 cryptocurrency ATMs, with more than 100 Bitcoin ATMs located across Ohio in cities like Cincinnati, Cleveland, Columbus, and Akron. An interactive map by Coin ATM Radar helps users locate nearby ATMs. However, consumers should exercise caution, as these ATMs can be targeted by scammers. The Federal Trade Commission reported that in the first half of 2024, around $65 million was lost due to scams involving Bitcoin ATMs, with older adults over 60 being particularly vulnerable. Scammers often impersonate officials or tech support to persuade victims to withdraw cash for deposit into Bitcoin ATMs, claiming it is a safer option.
