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Ohio introduces bill preventing state taxes on crypto payments
The legislation also requires state pension funds to evaluate investing in crypto exchange-traded funds, and covers the right to self-custody and crypto mining.
Lawmakers in the US state of Ohio have introduced a bill that prohibits the state legislature from imposing taxes on digital assets when used as a payment method.
Ohio House Bill 116, introduced on Feb. 24 by Representative Steve Demetriou and co-sponsored by Tex Fischer, Brian Lorenz, Ty D. Mathews, Riordan McClain and Josh Williams, aims to amend existing legislation preventing municipalities from imposing extra taxes or fees on crypto assets beyond those applied to traditional fiat transactions.
“The general assembly shall not enact a bill that proposes to impose a fee, tax, assessment, or other charge on digital assets used as a method of payment for goods and services,” it reads.
The bill defines “digital assets” as cryptocurrencies, stablecoins and non-fungible tokens.
The bill clarifies that taxes usually applied to legal tender, such as state or sales taxes, would still apply to crypto transactions, but there should be no new levies.
The “Ohio Blockchain Basics Act” also stated that no state agency or political subdivision may prohibit individuals from accepting crypto assets as payment for goods and services. Read More
Brazil becomes first country to approve a spot XRP ETF
Brazil’s Securities and Exchange Commission (CVM) has approved the country’s first spot exchange-traded fund (ETF) linked to XRP, the first of its kind globally, with the approval coming into effect on February 18.
The ETF, introduced by asset management firm Hashdex, will provide investors a regulated way to gain exposure to XRP through Brazil’s stock exchange, B3. XRP is a digital asset associated with the Ripple blockchain.
The fund, officially known as the Hashdex Nasdaq XRP Index Fund, is currently in the pre-operational state. Genial Investimentos, a Brazilian brokerage firm, has been named the fund administrator. While Hashdex confirmed the regulatory approval, the fund’s structure and trading launch date have yet to be revealed.
Market observers view the introduction of the ETF as part of a broader trend toward expanding cryptocurrency investment options. XRP is the third-largest cryptocurrency by market capitalisation, behind Bitcoin and Ethereum, and has a valuation of approximately $151 billion.
Silvio Pegado, Ripple’s managing director for Latin America, said XRP’s established role in cross-border payments and growing institutional interest contributed to its selection for an ETF. He also pointed to Brazil’s positive approach to cryptocurrency regulation as a factor enabling such financial products’ wider accessibility. Read More
SEC Commissioner Hester Peirce Asks Public for Its Opinions on Key Aspects of Crypto Clarity
The U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce says that the public’s input is necessary to bring greater crypto clarity.
In a statement, the longest-serving commissioner on the board asks for public feedback on key areas that can establish clear rules of the road for the crypto industry.
“This document invites such input by posing some of the questions with which the Task Force is wrestling. The Task Force is actively considering solutions to many of the issues presented. However, your input can significantly aid in that process.”
Peirce, who leads the SEC’s newly formed Crypto Task Force, says the team is currently working on questions related to the security status, public offerings, custody and secondary market trading of crypto assets.
She says the task force also aims to resolve issues on crypto lending, listing applications for crypto exchange-traded products (ETPs), tokenized securities and the proposed safe harbor policy that will exempt digital assets from the Securities Act’s registration requirements for a limited time during the development of the project. Read More
Regulators Back Off From Crypto Industry As SEC Shuts Down Investigation Into NFT Marketplace OpenSea
The U.S. Securities and Exchange Commission (SEC) has withdrawn its probe into the non-fungible token (NFT) marketplace OpenSea as the federal government concludes its war on crypto.
According to a post from OpenSea CEO Devin Finzer on the social media platform X, the SEC is ending its investigation into the company.
“The SEC is closing its investigation into Opensea. This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward – one that misinterprets the law and slows innovation.
Every creator, big or small, should be able to build freely without unnecessary barriers.”
Last year, Finzer announced that OpenSea had received a Wells notice from the SEC warning them of possible securities law violations. A Wells notice is a warning issued by the SEC that it’s planning to pursue legal action against a company, and is not an indication of wrongdoing.
At the time, Finzer said,
“This is a move into uncharted territory. By targeting NFTs, the SEC would stifle innovation on an even broader scale: hundreds of thousands of online artists and creatives are at risk, and many do not have the resources to defend themselves.” Read More
Is passive crypto income still possible with masternodes in 2025?
In 2025, passive crypto income via masternodes remains possible, but success hinges on adapting to evolving blockchain protocols, market dynamics and regulatory changes.
Key takeaways
Passive income has been a big buzzword these days. Earn money while you sleep — that’s the dream. One intriguing option for crypto lovers is a masternode investment. You can earn passive income while supporting a blockchain network.
These specialist nodes are crucial in maintaining networks, processing transactions and implementing governance. Setting up a masternode profitably does require technical know-how and a significant initial investment. You’ll need to buy and hold a certain amount of crypto and run a special server to operate the node and receive rewards.
In this guide, you’ll learn about pros and cons of masternodes, how they work and passive income opportunities. Read More
A New Crypto Category Has Emerged. What Impact Will it Have…Will It Evolve Into A Significant Narrative?
US-based cryptocurrency initiatives have historically been reticent about their origins. However, during Gary Gensler's tenure, they became vulnerable to aggressive scrutiny from the SEC, and numerous projects found themselves in the regulatory crossfire. Being a US-based project has often been a liability rather than a benefit in recent years.
The cryptocurrency industry has been electrified by the outcome of the U.S. Presidential election, with Donald J. Trump's victory sparking widespread anticipation. The regulatory shifts expected under Trump's leadership are poised to grant the crypto sector unprecedented freedom in the United States.
A new cryptocurrency category has surfaced amid this enthusiasm: "Made in the USA." This category includes cryptocurrencies that are closely linked to the United States, whether through headquarters located in the US or ties to notable American personalities. With Trump backing crypto, this category could see substantial growth, likely surpassing many others.
This has the potential to evolve into a significant narrative; thus, this article explicitly addresses cryptocurrencies based in the United States, the reasons this narrative could gain prominence, and the cryptocurrencies that may benefit from a Trump administration. To commemorate President Trump's inauguration, a newly established cryptocurrency category titled 'Made in USA' has been incorporated into price tracking platforms, including CoinMarketCap and CoinGecko. Read More
Blockchain interoperability will accelerate institutional success
Blockchain interoperability is the key that unlocks institutional adoption and success.
Opinion By: Temujin Louie, CEO of Wanchain
In recent years, we have witnessed a significant shift in traditional finance (TradFi), as legacy institutions have begun to adopt decentralized technologies and explore strategies that include the distinct advantages of blockchain technology.
TradFi and adoption:
TradFi giants, such as Goldman Sachs and BlackRock, continue demonstrating their appetite for using blockchain technology to trade assets on a large scale. The adoption of crypto solutions worldwide by US payment firms Mastercard and Visa has also signaled to global players that the time has come to seriously consider blockchain technology. Institutions not actively engaging with decentralized technologies are at risk of being left behind in today’s rapidly changing digital environment.
While the number of institutions dipping their toes into the world of decentralized technologies continues to grow, subpar interoperability is an obstacle impeding the widespread adoption of blockchain. Read More
Berachain TVL surges above $3.2B, overtaking Base and Arbitrum
Layer-1 blockchain Berachain passed a milestone with its total value locked (TVL) surpassing $3.26 billion, making it the sixth-largest blockchain network in decentralized finance (DeFi), according to DeFi data tracker DefiLlama.
As of Feb. 24, Berachain’s TVL exceeded that of Arbitrum and Base, marking a significant achievement for the network. At the time of writing, the Berachain (BERA) token was trading at $6.75, with a market capitalization of $715 million and a fully diluted valuation (FDV) of $3.3 billion.
TVL is the total value of crypto assets locked in a smart contract, a metric that often affects the overall value of DeFi projects. When the TVL of a network increases, it’s usually followed by an expansion of liquidity, popularity and usability.
A higher TVL means more capital is locked in a network’s DeFi protocols, so participants in its ecosystem may get more yields. Lower TVLs imply lower capital availability, resulting in fewer proceeds for DeFi. Read More
OpenSea Says SEC Will End Investigation Into Ethereum NFT Marketplace
The SEC is ending its investigation into NFT marketplace OpenSea, co-founder and CEO Devin Finzer said late Friday, following Coinbase's announcement earlier in the day that the SEC intends to drop charges against the crypto exchange.
"The SEC is closing its investigation into OpenSea. This is a win for everyone who is creating and building in our space," Finzer wrote on X. "Trying to classify NFTs as securities would have been a step backward—one that misinterprets the law and slows innovation. Every creator, big or small, should be able to build freely without unnecessary barriers."
Bloomberg added that the SEC does not intend to recommend enforcement action against OpenSea.
"This outcome allows creators to continue shaping the future of digital ownership and innovation without unnecessary constraints," Finzer added in a statement shared by OpenSea.
When reached for comment, an SEC spokesperson told Decrypt: "The SEC does not comment on the existence or nonexistence of a possible investigation." Read More
Blockchain’s next big breakthroughs: What to watch
The post-Bitcoin halving period brings new opportunities and challenges that will shape the future of decentralized technology and its influence on global markets.
Opinion by: Ken Alabi
Every four years, a few months after the Bitcoin halving, the blockchain ecosystem undergoes heightened public scrutiny. Typically lasting over a year, this period is driven by fundamental economic principles: When an asset’s supply is reduced while demand remains steady or increases, its value generally rises. Historically, this supply shock has triggered Bitcoin-led market appreciation, sparking increased interest and participation from users, developers, investors and policymakers.
During these post-halving periods, the blockchain industry has showcased its projects, technological innovations and potential utilities. None of the prior cycles have yielded a blockchain application that unequivocally eclipses existing technologies in any specific area. Yet, blockchain’s core strengths — immutability, data transparency and user asset sovereignty enabled by private key encryption — continue to attract innovators. These features have been creatively applied across numerous sectors, including borderless payment systems, DeFi, NFTs, gaming systems with recorded in-game assets, fan and loyalty tokens, transparent grants and charity disbursement systems, agricultural subsidies and loan tracking.
While past cycles have highlighted blockchain’s potential, the next period promises to audition new use cases, as detailed below. Read More
Bybit CEO discusses possibility of Ethereum blockchain rollback
Following the Lazarus hack, an online debate erupted about potentially rolling back the Ethereum blockchain to invalidate the stolen funds.
Bybit CEO Ben Zhou said that the exchange will try all available means to get the stolen funds back — including a bounty program for anyone aiding in the return of the funds, working with law enforcement, and talking with the Ethereum Foundation to explore possible solutions.
In a Feb. 22 X Spaces, Zhou was asked if he supported a rollback of the Ethereum blockchain to a state before the Feb. 21 Lazarus Group hack, which would invalidate the stolen funds. The Bybit CEO responded:
"I'm not sure if it's one man's decision. Based on the spirit of blockchain, maybe it should be a voting process to see what the communities want, but I am not not sure."
The Ethereum blockchain was “rolled back” following the 2016 DAO hack, which left approximately $60 million in Ether drained from The DAO.
This hack prompted a hard fork that split the Ethereum blockchain into “Ethereum Classic”, which includes the illicit transactions and the proof-of-stake chain considered to be the main Ethereum network today. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
