Blockchain

Overstock notches up another crypto first

Online retailer Overstock is set to pay a portion of its Ohio business taxes (commercial activity taxes) in Bitcoin, using the state’s new platform, OhioCrypto.com.

Also of interest: Overstock boss preps big bet on blockchain

“We applaud Overstock for becoming the first national brand in America to register to pay taxes via cryptocurrency. Their embrace of blockchain technology was ahead of its time and we’re proud to have them join OhioCrypto.com,” comments Ohio Treasurer Josh Mandel.

“We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the US does not lose our place at the forefront of the ever-advancing global economy,” says Overstock CEO and Founder Patrick M. Byrne.

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.