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Bill

HB 116

Enact the Ohio Blockchain Basics Act

136th Legislature (2025-2026) Introduced by Steve Demetriou and 5 co-sponsors

Ohio establishes legal framework recognizing blockchain technology and digital assets to clarify regulatory requirements and attract blockchain business activity to the state.

Referred to committee
#commerce #retirement #securities #taxation
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Bill Summary · HB 116

Legislative bill overview

HB 116, the Ohio Blockchain Basics Act, establishes foundational legal recognition and regulatory framework for blockchain technology and related digital assets in Ohio. The bill appears designed to clarify how existing state laws apply to blockchain activities and create certainty for businesses and individuals engaging with this technology within the state.

Why is this important

As blockchain and cryptocurrency activities expand, businesses need legal clarity on how state regulations apply to their operations. This bill could position Ohio as blockchain-friendly, potentially attracting tech companies and related economic activity. However, it also sets precedent for how the state will regulate emerging financial technologies that operate differently from traditional banking systems.

Potential points of contention

  • Consumer protection vs. innovation: Balancing sufficient safeguards for consumers against overly restrictive rules that stifle blockchain development and business adoption
  • Federal-state jurisdiction: Unclear how state blockchain laws interact with federal cryptocurrency and money transmission regulations, potentially creating conflicting requirements
  • Definition and scope ambiguity: Without seeing the full text, uncertainty about what activities count as "blockchain" under the law and which industries are covered or exempted

Compiled from official sources — confirm details with the bill’s official record.

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