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A bill prohibiting extra taxes on crypto payments and safeguarding digital asset rights has been introduced in the Ohio House of Representatives. Dubbed the Ohio Blockchain Basics Act , the bill outlines protections for activities like self-custody, mining, and staking while also exempting certain crypto transactions from money transmission licensing requirements. It was introduced on Feb. 24 by Representative Steve Demetriou and co-sponsored by fellow lawmakers Tex Fischer, Brian Lorenz, Ty D. Mathews, Riordan McClain, and Josh Williams. One of the key aspects of the bill is that it prevents state and local governments from imposing additional taxes, fees, or charges on digital assets used as a method of payment, essentially treating them the same as traditional fiat transactions. However, crypto transactions would still be subject to standard taxes, such as state and sales taxes, just like any other payment made with traditional fiat currency. Regarding digital asset rights, the bill mandates that individuals have the freedom to self-custody their digital assets using hardware or self-hosted wallets. It also protects the right to participate in crypto staking and mining activities without the need for a money transmission license, as long as local zoning regulations are followed. Further, it ensures that no state agency or political subdivision may prohibit individuals from accepting digital assets as payment for goods and services. Additionally, the bill allows residential crypto mining in compliance with local ordinances and ensures that zoning changes cannot unfairly target mining businesses operating in industrial zones. The legislation also calls for Ohio’s state retirement funds to assess the potential risks and benefits of investing in crypto exchange-traded funds. The findings from this evaluation must be reported to the General Assembly within a year, highlighting the state’s growing interest in exploring digital asset investments for institutional portfolios. Lawmakers in Ohio have constantly pushed for crypto-related bills over the past months, including two bills related to cryptocurrency reserves. The first was introduced by Representative Derek Merrin, aiming to establish a strategic Bitcoin reserve for the state. Shortly after, Representative Steve Demetriou, who also spearheaded the Ohio Blockchain Basics Act, proposed a second bill that would allow Ohio to allocate up to 10% of its state-controlled funds toward building a Bitcoin stockpile.

Strike CEO Drops Bombshell: Trump Eyeing US Bitcoin Reserve on Day One via Executive Order This week, Jack Mallers, the CEO and founder of Strike, dished on President-elect Donald Trump’s plan to establish a strategic bitcoin reserve on his very first day in office via an executive order. Jack Mallers Stuns Timcast Host Tim Pool The buzz around a strategic bitcoin reserve for the U.S. has picked up steam lately, especially with new laws and nods from politicians. One standout proposal is from U.S. Senator Cynthia Lummis with her Bitcoin Act of 2024. This bill recommends that the U.S. Treasury and Federal Reserve snap up 200,000 bitcoins each year for five years, leading to a stash of one million bitcoins, which would make up approximately 5% of the world’s bitcoin hoard. On Timcast, the show run by American commentator and journalist Tim Pool, Strike’s founder Jack Mallers discussed Trump‘s plan to .

According to analyst Merljin Trader , Bitcoin’s current price movement mirrors the 2021 bull run. The market structure shows identical patterns, suggesting a potential parabolic rally. As in 2021, a similar three-wave impulse evolved prior to an ABC correction. A significant resistance level has just been broken by Bitcoin , indicating a strong continuing phase. This fractal design suggests that prices could rise above $100,000. BITCOIN IS PLAYING THE SAME GAME The 2021 bull run setup is unfolding once again in 2025. – Same 1-2-3 wave – Same ABC correction – Same Breakout Setup Next? Parabolic move to new ATHs! pic.twitter.com/6O5DxSXY0y Bitcoin’s 2021 bull run started with a three-wave impulse . After reaching its third wave peak, the price retraced in an ABC correction. Wave A marked a decline, wave B attempted recovery, and wave C completed the correction. Once the breakout occurred, Bitcoin pulled back before a sharp rally beyond $50,000. Similarly, the 2025 chart follows the same structure. A three-wave impulse led to an ABC correction, forming a predictable pattern. The breakout above the previous resistance (BOS) suggests a bullish continuation. Consequently, Bitcoin’s movement aligns with historical trends, reinforcing the likelihood of a strong rally. Bitcoin recently broke its BOS level, indicating bullish momentum. The pullback phase stabilized prices, setting the stage for further gains. Moreover, the structure suggests a continuation toward $125,000 if historical trends repeat. Additionally, the breakout serves as a confirmation of trend strength. The consolidation phase enhances market confidence before the next leg up. Besides, Bitcoin’s cyclic nature highlights its ability to follow fractal price movements in bullish conditions. Bitcoin often repeats past price cycles . The similarity between 2021 and 2025 charts underscores this tendency. The fractal nature of these trends reinforces investor confidence, making historical analysis vital. Moreover, breakouts act as crucial price confirmations. The ongoing pattern strengthens the bullish case. Traders anticipate further upside as Bitcoin mirrors previous movements. Hence, the 2025 projection suggests a parabolic move, much like 2021. The breakout and pullback confirm trend continuation, positioning Bitcoin for potential all-time highs. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Possible Bottom for the Candle? According to chart, the recent low (90,966.48) of Bitcoin could act as a short-term support level. If this level breaks, the price may drop further. Possible Bottom Levels: 1. First Support Level: 90,966.48 If this level holds, a rebound is possible. 2. Second Support Level: 89,500 - 90,000 Zone If the first level breaks, this could be the next possible support zone. 3. Third Support Level: Around 88,000 If the market continues to drop, buyers might step in around this level. Additional Points: RSI (6) = 32.91, indicating the market is entering the oversold zone, which means a potential rebound could occur. EMA(22) = 93,643.82, while the current price is below this level, showing a short-term bearish trend. Is This the Bottom? Right now, 90,966.48 looks like a temporary bottom, but if it breaks, the price may go lower. If this level holds and buying pressure increases, a rebound is likely.

According to Cointelegraph, lawmakers in Ohio have introduced a bill aimed at preventing the state legislature from imposing additional taxes on digital assets when used as a payment method. Ohio House Bill 116, introduced on February 24 by Representative Steve Demetriou and co-sponsored by Tex Fischer, Brian Lorenz, Ty D. Mathews, Riordan McClain, and Josh Williams, seeks to amend existing legislation to ensure that municipalities cannot impose extra taxes or fees on crypto assets beyond those applied to traditional fiat transactions. The bill specifies that the general assembly shall not enact legislation imposing fees, taxes, assessments, or other charges on digital assets used for payment of goods and services. It defines "digital assets" to include cryptocurrencies, stablecoins, and non-fungible tokens. While taxes typically applied to legal tender, such as state or sales taxes, would still apply to crypto transactions, the bill emphasizes that no new levies should be introduced. Additionally, the "Ohio Blockchain Basics Act" asserts that no state agency or political subdivision may prohibit individuals from accepting crypto assets as payment for goods and services. The bill also grants Ohio residents the right to self-custody their digital assets using hardware or self-hosted wallets and participate in crypto staking. Furthermore, activities such as mining, staking, and exchanging crypto assets for other crypto assets do not require "money transmission" licensing under existing Ohio laws. The proposed legislation also addresses crypto mining, allowing individuals to engage in mining activities in residential areas as long as they comply with local zoning regulations. Mining businesses are explicitly permitted in industrial zones and cannot be unfairly targeted by local zoning changes. Additionally, Ohio state retirement funds will be required to evaluate the potential risks and benefits of investing in a crypto exchange-traded fund and report back to the General Assembly within a year. Ohio representatives have been active in proposing crypto-related legislation in recent months. In September, Ohio Senator Niraj Antani introduced a bill requiring the state to accept cryptocurrency for payment of state taxes and fees. In December, Ohio House Republican leader Derek Merrin introduced HB 703, aiming to establish a strategic Bitcoin reserve for the state. Meanwhile, Ohio Senator Sandra O’Brien introduced another bill in February to create an "Ohio (Bitcoin) $BTC Reserve Fund," with a five-year holding period.