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Ohioans may soon be able to pay fees, taxes with cryptocurrency like Bitcoin – Scioto Post

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Ohioans may soon be able to pay fees, taxes with cryptocurrency like Bitcoin – Scioto Post
New virtual money concept, Gold Bitcoins ( btc ) is Digital crypto-currency use blockchain Technology for

By: Morgan Trau – April 29, 2025 

COLUMBUS, Ohio — Ohioans are getting closer to being able to pay their taxes in cryptocurrency. A new GOP proposal lays the groundwork for digital tokens to become more mainstream.

With the stock market’s volatility, investment experts suggest diversifying your portfolio. Ohio politicians are trying to give more incentives for that, too.

“We are authorizing the use of cryptocurrency as just another way to keep up with the current practices that are generally accepted by the American public and by the people of the state of Ohio,” State Treasurer Robert Sprague said.

Sprague and Ohio Secretary of State Frank LaRose are trying to show the state is “an innovative leader,” eventually allowing Ohioans to use it to pay for state fees and services, like taxes.

The pair is proposing that state agencies be allowed to accept crypto, but it is not mandatory.

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Although it could eventually get to taxes, it would start slower with just the secretary’s office, meaning business filings.

“My office is prepared to be the first in state government to begin accepting Bitcoin and to do so immediately,” LaRose said.

So, what exactly is cryptocurrency?

Crypto is a “peer-to-peer digital currency, and it’s outside of an independent central governing authority,” Case Western Reserve University Veale Institute for Entrepreneurship’s Michael Goldberg said.

GET THE MORNING HEADLINES.SUBSCRIBEThe professor explained that the online “coins” are stored in a digital database known as a blockchain. Like stocks, they can be traded and sold. One Bitcoin, the largest cryptocurrency, fluctuates and was worth more than $94,000 as of 6 p.m. on Friday.

“Oftentimes with Bitcoin, there are less fees associated with it,” he said.

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Two other crypto proposals are being heard in the Ohio House, with one trying to make sure that fees stay low. Both sponsored by state Rep, Steve Demetriou, R-Bainbridge Twp., one bill would “protect” cryptocurrency from putting certain taxes on it. The other would allow the treasurer to invest in “high value digital assets” in the general or reserve fund.

But because crypto spikes and falls rapidly, Goldberg warned that payments could be hard to calculate.

Government accountability advocate Catherine Turcer, with Common Cause Ohio, said this isn’t safe for the state’s finances.

“It is electronic money, anything could happen to it,” Turcer said. “Whether it’s hacking, deflation — when you pay on April 15 your taxes, and it nosedives on the 16th — it’s just too volatile.”

The treasurer explained that their system would immediately change the currency format once submitted.

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“Our mission here is to have a thoughtful, safe and secure process for accepting this cryptocurrency and converting it immediately into United States dollars for the state treasury to hold,” Sprague said.

In 2024, the FBI reported $9.3 billion in losses due to cryptocurrency cybercrime.

There will always be financial fraud, Goldberg said, but when it’s online, it’s much more difficult to get back.

“Crypto is still a bit of the wild, wild west; it’s basically completely deregulated,” he said. “If somebody gets defrauded, it may be a bit more challenging for them to recoup their assets.”

It’s too risky, Turcer continued.

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“Money is worth the money we say it’s worth,” she said.

Bitcoin is based on the dollar’s price, Goldberg said.

Asked whether the putting Bitcoin forward would undermine the U.S. dollar, Sprague paused, then said no.

“Having a digital asset like Bitcoin really doesn’t have anything to do with necessarily the value of the dollar,” he answered. “The number of dollars is fixed. Just because you’re allowing a transaction to occur in Bitcoin and then converting it to dollars will do nothing in terms of the strength or the weakness of the United States dollar.”

Flashbacks

This isn’t the first time the treasurer’s office tried to make crypto work.

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Back in 2018, then-Treasurer Josh Mandel decided that Ohioans could pay their taxes in crypto. Within a year, the program was suspended because Attorney General Dave Yost issued an opinion that Mandel didn’t follow correct protocol in setting up the system.

“We’ll have a real process to this,” Sprague said in the recent press conference. “We’ll have a transparent process.”

Turcer is also getting reminded of the early 2000s, she said.

“We had alternative investments,” she said, referencing Coingate. “We were investing in rare coins — and you know what? The state of Ohio got ripped off.”

Coingate was a scam in which the Ohio Bureau of Workers’ Compensation invested hundreds of millions in “rare coins.” The investments were run by people aligned with the Ohio GOP. This eventually led to millions of dollars being lost and Gov. Bob Taft being the first Ohio governor charged with a crime while in office.

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Crypto isn’t random, Goldberg said, and it’s been around — and profitable — for years. According to Forbes, the global cryptocurrency market cap is more than $3 trillion.

“When Bitcoin came out, I think there were a lot of questions,” Goldberg said. “And it’s held up.”

Why now?

Both Sprague and LaRose were asked if they or members of their staff own assets in cryptocurrency or if they invest in cryptocurrency-related companies.

“I wish,” Sprague laughed, and denied owning or investing in crypto.

“I do,” LaRose said. “I’m somebody that has been curious about this technology and this form of currency for a long time.”

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He referenced financial disclosure documents, which are filed in May, that he said would show his financial involvement in crypto.

“I think at this point I own like $10,000 worth of Bitcoin that I’ve been able to amass by putting a little bit of my paycheck aside each month,” he said.

OCJ/WEWS requested his previous disclosures. None showed any crypto investments explicitly. He had only started investing in 2024, his team said on Friday.

LaRose isn’t the only politician who owns crypto and promotes it. President Donald Trump released his own coin, which just got a boost in the market since he offered a private dinner with him to the coin’s largest investors.

“It is interesting that (LaRose is) proposing this — it both curries favor with the president and could actually make him richer,” Turcer said. “The more people participate in the Bitcoin system, the more the value raises.”

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The secretary argued that this is just to move the state forward.

“Ohioans have accepted this as a real form of currency, a form of exchange that they want to use,” he said.

Ohio gubernatorial candidate Vivek Ramaswamy is also a big fan of the currency. Both LaRose and Sprague have been on the campaign trail with him.

The two were asked how the measure fits in with any interests they have in becoming Ramaswamy’s pick for lieutenant governor. Sprague said he hadn’t talked to Ramaswamy about it.

“This is something that we’re working on, together, through our respective offices, to modernize our offices and make it easier for the people of the state of Ohio… So this is something we’re doing internally,” Sprague said. “We’re not doing this on the campaign trail.”

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LaRose was less enthused with the question.

“I’m not gonna dignify any speculation about who Mr. Ramaswamy may or may not pick as his running mate,” he said, also saying he hadn’t spoken to the candidate about his proposal. “The reason I’m supporting him is because I appreciate his intellect and his policy stances and if this is something that he’s a fan of as well, that doesn’t surprise me.”

The Board of Deposit, which includes Sprague, Yost and Auditor Keith Faber, will meet in the coming weeks to review the proposal.

Follow WEWS statehouse reporter Morgan Trau on Twitter and Facebook.

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Jim Rickards Asked Robert Kiyosaki to Read One Manuscript, Then His View of Global Finance Changed

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Jim Rickards Asked Robert Kiyosaki to Read One Manuscript, Then His View of Global Finance Changed

Key Takeaways

Why Did One Manuscript Change Robert Kiyosaki’s View?

Robert Kiyosaki, the author of the best-selling personal finance book Rich Dad Poor Dad, said an advance manuscript of “The Entropy Trap” shared by Jim Rickards prompted him to rethink how he views global finance. Rickards is an economist, lawyer, and financial commentator known for writing about currencies, debt, and systemic market risk. Kiyosaki said the early reading changed his perspective on where the financial system may be headed.

The reaction was framed around a warning about financial change. The book, written by Mickey M. Maini, “blew my mind and opened my eyes to what & why global financial change is coming,” Kiyosaki described. His comments focused on what he described as a shift in the rules behind wealth, assets, and trust.

The central claim is that wealth could move away from people relying on traditional financial assumptions. Kiyosaki asserted:

“The informed will be tomorrow’s ULTRA RICH. Todays uniformed operating by the old rules of money… will become the new poor.”

The Warning Behind the Claim

The warning centers on assets that depend on trust, including U.S. bonds, exchange-traded funds (ETFs), and mutual funds. Kiyosaki framed those instruments as vulnerable under the financial shift he says is coming, placing commonly held investment products at the center of the risk.

That claim is severe, but he presented it as a warning rather than a proven outcome. He also pointed to large bondholders, including Japan, saying they have already started dumping U.S. bonds. He did not provide supporting data in the statement.

The acclaimed author shared:

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“Message from book… ‘All assets that require trust, assets that most people have… such as U.S. bonds, ETFs, mutual funds will be flushed down toilets, all over the world.’”

The broader conflict is whether traditional financial assets remain reliable under the conditions Kiyosaki described. His framing divides investors between those preparing for a changed financial system and those still operating under assumptions he says may no longer hold.

What Still Needs to Be Proven

A planned August study session could clarify the warning Kiyosaki described. He said his study team would examine the message and that Rickards may join, though the evidence behind the claims has not yet been laid out.

For now, the warning rests on Kiyosaki’s account of a manuscript that changed his view. He urged readers to prepare, writing:

“I want you to be one of the world’s new rich.”

What remains unknown is whether market data, policy moves, or investor behavior will confirm the risk he described.

His recent commentary has focused on what he describes as fragility in the global monetary system, particularly around the U.S. dollar. He has pointed to rising debt, central bank policies, and inflation as risks that could trigger a sharp market downturn.

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Alongside those concerns, he has repeatedly highlighted bitcoin, gold, and silver as alternative stores of value. In his view, those assets may help reduce exposure to traditional financial instruments during periods of currency weakness and market turbulence.

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Strategy Is No Longer Just Going to “Inoculate the Market,” Selling Crypto May Be Much More Common. Here’s What That Could Mean for the Stock | The Motley Fool

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Strategy Is No Longer Just Going to “Inoculate the Market,” Selling Crypto May Be Much More Common. Here’s What That Could Mean for the Stock | The Motley Fool

When Strategy (MSTR 0.69%) sold a modest amount of Bitcoin earlier this year, it was a noteworthy development given that the company’s business has centered around buying up as much of the cryptocurrency as it can, and vowing to never sell. And it often boasts of being the largest corporate holder of the digital currency.

The company brushed off the sale of 32 Bitcoins, with management saying it simply wanted to “inoculate the market.” Well, now it appears that Strategy is doing much more than just that, and there could be more significant cryptocurrency sales in the future.

Image source: Getty Images.

Strategy unveils a Bitcoin monetization program

On June 29, Strategy released a framework going forward that it says will “enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation for shareholders.” Among the notable components is its Bitcoin monetization program.

Within that program, the company says it may sell some of its cryptocurrency holdings for multiple reasons, including to fund a USD reserve, fund dividends or interest expense, or to fund repurchases of digital credit securities or common stock.

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While the company says it remains committed to Bitcoin for the long term and it’s the company’s “primary treasury reserve asset,” it’s a significant change of course for Strategy, which was previously heavily against ever selling the digital asset.

Strategy Stock Quote

Today’s Change

(-0.69%) $-0.69

Current Price

$100.08

The stock is as risky and volatile as ever

Whether or not Strategy buys or sells Bitcoin doesn’t change the fact that this is a highly risky and speculative stock to own. While crypto fans may be disappointed in the company’s change in strategy, selling Bitcoin will likely not be enough to make the business any better or worse as an investment.

In just the past 12 months, the stock has plummeted a whopping 75% as volatility in digital assets has drastically weighed on its earnings, with the company incurring $12.8 billion in losses over the trailing 12 months, on revenue of $490 million.

That’s not likely to change significantly, even if Strategy offloads some of its crypto holdings, because with such a large exposure to Bitcoin, how the cryptocurrency performs will inevitably impact the company’s bottom line in a big way. This year, the leading cryptocurrency is down 28% as investor excitement around it has largely cooled off, which has proven disastrous for Strategy’s stock as well. And at this stage, there’s little reason to anticipate a recovery anytime soon.

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An Easy-to-Miss Radio Traffic Jam Is Behind Many Home WiFi Slowdowns

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An Easy-to-Miss Radio Traffic Jam Is Behind Many Home WiFi Slowdowns

Key Takeaways

Your WiFi can feel rock-solid at midnight and oddly sluggish by breakfast, even when you have not touched a single setting. The culprit is often outside your walls: a crowded slice of public radio spectrum where your router has to negotiate space with every nearby network, plus a grab bag of household gadgets that leak interference. Add peak-hours demand and the signal-blocking quirks of building materials and weather, and “slow internet” starts to look less like a billing issue and more like an invisible traffic problem you are forced to share.

When WiFi slows down without warning

One day your home WiFi feels snappy, the next it drags, even though your router hasn’t moved and your internet plan hasn’t changed. That swing is real, and it’s usually not your imagination or a “bad day” from your ISP. WiFi lives on shared airwaves, and those airwaves get crowded, noisy, and sometimes just plain finicky.

Think of your connection as a conversation in a busy room. Your laptop and router may be talking just fine, but the room itself can fill up fast with other chatter. What looks like a mystery slowdown is often the result of invisible competition and interference that changes hour by hour.

The battle of competing networks

Most homes still rely heavily on the 2.4 GHz and 5 GHz WiFi bands, which are unlicensed spectrum in the US. That “free for everyone” reality is convenient, but it also means your network shares space with your neighbors, their smart TVs, their work laptops, and every nearby router doing the same thing.

Congestion has a rhythm. During common work-from-home and school-from-home windows, especially 8-10 AM, and again in the evening 6-10 PM, more devices are streaming, video calling, syncing, and downloading updates. Even if you pay for fast broadband, your WiFi link can become the bottleneck when the local radio environment gets packed.

Interference inside your home

Your own house can sabotage you. A microwave is the classic culprit because it can leak noise near 2.4 GHz, exactly where many WiFi networks still operate. Older cordless phones, some baby monitors, and even dense clusters of Bluetooth gadgets can add more clutter, especially in smaller apartments where everything sits close together.

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Then there’s physics. Concrete, metal, and even water (think aquariums or thick pipes in walls) absorb and scatter radio signals. A router shoved behind a TV, tucked into a cabinet, or stuck in a far corner forces your devices to “hear” through more obstacles, lowering speeds and making dropouts more likely.

Weather, channels, and what you can do tonight

Environmental changes can matter too. Higher humidity and rain can slightly increase signal loss, and shifting temperatures can change how radio waves propagate around a neighborhood. You might never notice on its own, but paired with congestion it can tip a marginal connection into a frustrating one.

The 2.4 GHz band is also channel-limited. In the US there are 11 channels, but only 1, 6, and 11 don’t overlap. Many routers default to “auto channel,” so nearby networks can hop around trying to escape interference, sometimes creating instability. Practical fixes: prefer 5 GHz (or 6 GHz if you have WiFi 6E/7 gear), place the router centrally and higher up, and use a WiFi analyzer app to pick a less crowded channel instead of leaving it on auto.

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