COLUMBUS, Ohio (WCMH) — Cryptocurrencies experienced a volatile year in 2025. Bitcoin hit its all-time peak price in October, only to fall by 30 percent by the start of 2026. However, as more Americans continue to invest in digital currencies, state legislators are focused on ensuring the security of Ohio residents’ digital assets. They are also exploring opportunities for the state to invest in this area.
Rep. Thad Claggett (R-Licking County), who leads the House Technology and Innovation Committee, stated that the adoption of cryptocurrency has been a “major change,” but he remains assured that the state will be able to adapt.
I’m not particularly worried about cryptocurrencies,” stated Claggett. “If we regulate them properly and have the support of the state and the country behind that regulation, I believe we’ll be okay.
Claggett also thinks Ohio law doesn’t require major changes to ensure digital assets are secure and used properly.
What we’re aiming to ensure is that we don’t enable bad actors to utilize these platforms, whether it’s for currency exchange or anything else, and then escape consequences for their crimes,” said Claggett. “Our laws are adequate for many areas, it’s simply about how they are applied.
Approximately 1.3 million residents of Ohio hold some form of cryptocurrency, as stated by Rep. Steve Demetriou (R-Bainbridge Twp). In the previous year, Demetriou proposed multiple pieces of legislation aimed at overseeing and promoting the cryptocurrency sector in Ohio.
In June, the Ohio House approved Demetriou’s Blockchain Fundamentals Act, which simplifies the process for Ohio residents to mine and use digital assets by allowing businesses to take cryptocurrency as payment and restricting how much local areas can control crypto mining data centers.
Demetriou stated during a session in the House that by enacting the Blockchain Fundamentals Act, Ohio would demonstrate its readiness to adopt the future of its economy.
Democrats were divided regarding the bill, with the majority voting against it. Rep. Ismail Mohamad (D-Columbus), the ranking member on the Technology and Innovation Committee, encouraged his fellow Democrats to support the Blockchain Basics Act, while recognizing the reservations within his party.
Permitting mining operations in residential zones creates worries. Mining consumes large amounts of electricity and water, which can influence rural areas that depend on well water,” stated Mohamad. “The machinery produces heat, necessitating extensive cooling using water and air conditioning, which affects the surrounding environment.
The legislation will now be reviewed by the Ohio Senate, where Democrats aim to tackle some of their issues.
Demetriou also proposed a bill aimed at establishing a Strategic Cryptocurrency Reserve for the state. If approved, this legislation would enable the state treasurer to allocate a specific portion of state funds into cryptocurrency. The bill would include measures to ensure proper oversight and prevent misuse, and the state would be prohibited from investing in speculative “meme coins.”
Additional laws proposed by Demetriou would amend state regulations to protect unclaimed digital assets using the same framework the state currently employs for conventional unclaimed money. Co-sponsor Rep. Josh Williams (R-Sylvania Twp) stated that this type of legislation would be advantageous as an increasing number of Americans utilize cryptocurrency as a standard investment method.
Some of these accounts become inactive over time,” Williams stated in October. “People may forget their passcode even though the wallet owner still has access to it. The individual might lose their password or something else, and that asset will keep increasing over time. We aim to establish a system for unclaimed funds similar to any other asset.
Both that bill and the Ohio Strategic Cryptocurrency Reserve Act are still under review by the Technology and Innovation Committee, pending approval for further consideration by the full House.
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