Online retail giant Overstock will become the first major US company to pay part of its 2019 Ohio state business taxes in bitcoin. Overstock — which has a blockchain business division — said the move is part of its ongoing efforts to promote cryptocurrency use.

Overstock CEO and founder Patrick Byrne praised Ohio and its treasurer Josh Mandel for making Ohio the first US state to accept bitcoin for tax payments.

“We are proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an era of trust through technology for our nation’s essential financial systems,” Byrne remarked in a statement.

We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation) is the best way to ensure the US does not lose our place at the forefront of the ever-advancing global economy.

Overstock will use bitcoin to pay its Ohio commercial activity taxes in February 2019. The company has long been a corporate pioneer for crypto.

In 2014, Overstock became the first major retailer to allow customers to pay for their online purchases using cryptocurrencies.

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