Ohio has become the first U.S. state to allow taxes to be paid in bitcoin.
According to a report from The Wall Street Journal on Sunday, starting this week, companies in the state will be able to pay a variety of taxes, from tobacco sales tax to employee withholding tax to public utilities tax with the cryptocurrency.
The filing process involves three steps: First, businesses will have to register with the Office of the Ohio Treasurer through a dedicated portal called OhioCrypto.com. They then need to enter tax details such as payment amount and tax period, and, finally, the due amount is paid in bitcoin using a "compatible" crypto wallet, according to the portal.