U.S. Retailer Overstock to Pay Ohio Taxes with Bitcoin

bitcoin overstock and cryptocurrency

The large American retailer Overstock.com, with the arrival of the new year has announced that a portion of its business taxes will be paid using Bitcoin (BTC), but only in the state of Ohio according to an announcement posted on its website on January 3.

According to the announcement, Overstock will cancel business activity taxes (CAT) with Bitcoin starting in February, based on the recently launched cryptocoins taxpayer platform, OhioCrypto.com.

Patrick Byrne, CEO and founder of the company, who has long been a believer in cryptoactives, said, “Government adoption of crypto currencies and other emerging technologies, accompanied by friendly legislation, is the best way to ensure that the United States does not lose its place at the forefront of the ever-advancing global economy.

Ohio was the first U.S. state to accept Bitcoin for tax payment in November 2018. Being an exclusive service for businesses only, with plans to extend the option to natural persons in the near future.

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