Can I offer a cryptocurrency as a form of payment without violating financial regulations in Ohio? What are the requirements?

Based on the information provided in Ohio Administrative Code (OHAC) Rule 1301:6-3-14, a dealer’s license is required for a person who acts as a dealer, subject to certain exceptions. One of the exceptions is that a person may sell any securities of its subsidiary without a license, which have been issued under an approved plan of reorganization, recapitalization or refinancing pursuant to section 1707.04 of the Revised Code. However, the code does not specifically mention cryptocurrency as a form of payment.

It is recommended that you consult with a legal professional who is knowledgeable in Ohio financial regulations to determine the specific requirements for offering cryptocurrency as a form of payment. They can provide you with guidance on how to comply with the regulations and avoid any potential violations.

Jurisdiction

Ohio

• General