OH SB57

Creates the Ohio Bitcoin Reserve Fund in the state treasury, allowing the treasurer of state to invest state funds in bitcoin and requiring a minimum 5-year holding period before any bitcoin can be sold or converted

Requires all governmental entities (state and local) to accept cryptocurrency payments approved by the tax commissioner for taxes, fees, fines, assessments, and other expenses owed to the government

Mandates that cryptocurrency received as payment be converted to bitcoin and transferred to the Ohio Bitcoin Reserve Fund, with the treasurer reimbursing the governmental entity in U.S. dollars

Establishes security requirements for bitcoin custody, including encrypted private keys, multi-party governance, geographically diversified storage locations, and regular security audits

Allows forfeited bitcoin from law enforcement seizures to be transferred to the Ohio Bitcoin Reserve Fund and permits the treasurer to accept bitcoin donations from Ohio residents, political subdivisions, and state universities