(The Center Square) – While President Donald Trump and Vice President J.D. Vance continue to push cryptocurrency as the answer to inflation, Ohio has taken a step toward normalizing it.
The Ohio Board of Deposit is open for proposals to facilitate the use of cryptocurrency to pay for state fees and services. It approved the use after it agrees on a vendor contract.
The move came a month after Treasurer Robert Sprague and Secretary of State Frank LaRose asked for the change. LaRose is running for state auditor in 2026, while Sprague is running for secretary of state.
“Crypto is one of the world’s fastest-growing asset classes, and it’s quickly gaining wide acceptance as a store of value and a form of currency,” LaRose said in a statement. “Ohio has an opportunity to be a leader in this emerging industry. The board’s approval allows us to take the next step in setting the standard for how digital assets can be used to pay for public financial obligations.”
The plan would be to allow each state agency to decide if it wants to accept the form of payment, and LaRose wants the secretary of state’s office to be the first.
“Our state is working hard to create the new Silicon Heartland, and this is exactly the kind of innovation we need to embrace as tech companies and entrepreneurs look to do business in Ohio,” LaRose said. “We have to make sure we do it right, but that shouldn’t keep us from leaning into the future.”
Earlier this week, Trump, Vance and Eric Trump spoke at the Bitcoin 2025 conference in Las Vegas.
Vance said cryptocurrency was “here to stay” and protects Americans from some vulnerabilities that might be heightened by politics.
“Crypto is a hedge against bad policymaking from Washington, no matter what party is in control,” Vance said. “It’s a hedge against skyrocketing inflation, which has eroded the real savings rates of Americans over the last four years. And as you all know well, it’s a hedge against a private sector that’s increasingly willing to discriminate against consumers on the basis of their basic beliefs, including their politics.”
