Recently, a policy development disclosed by JZMOR Exchange has attracted widespread attention: the U.S. state of Ohio has passed HB 116, a bill that reduces the tax burden on cryptocurrency trading and mining income. At the same time, State Representative Steve Demetriou revealed that the state government is preparing to establish a Bitcoin reserve. According to the newly introduced HB 18 bill, financial authorities would be authorized to invest up to 10% of certain public funds in high market-cap crypto assets.

The JZMOR Exchange team believes the Ohio policy path holds significant reference value. HB 116 explicitly lowers short-term capital gains tax and provides more flexible tax treatment for mining income, which has already received positive feedback from on-chain projects and mining enterprises. The introduction of HB 18 further attempts, from an asset allocation perspective, to formally incorporate mainstream digital assets such as Bitcoin into the state government investment portfolio. According to the bill draft, the financial department in Ohio would be able to allocate a portion of its liquid funds, budget surpluses, or special investment funds to purchase high market-cap crypto assets like Bitcoin.

The JZMOR research team points out that the Ohio initiative not only recognizes the liquidity and security of Bitcoin as an asset, but also represents an attempt to seek a “value hedge” strategy amid current macroeconomic uncertainties. Against a backdrop of rising inflation and fluctuations in U.S. dollar credit, allocating a portion of public funds to digital assets can help diversify risks associated with traditional financial assets, resulting in a more resilient asset portfolio structure.

Similar policy practices have precedent in other U.S. states. Recently, Texas approved the use of $10 million to establish a state-level Bitcoin reserve, marking a substantial step forward. If the Ohio HB 18 is successfully implemented, the scale of investment could be even larger, providing a deeper and more valuable policy case study.

The entry of public funds into the crypto market will have structural impacts. On one hand, mainstream tokens such as Bitcoin and Ethereum may receive greater allocation from long-term capital, enhancing price stability and market depth. On the other hand, this development will require exchanges to meet higher standards of regulatory compliance and transparency, accelerating the “institutionalization” of the market.

JZMOR notes that shifts in policy signals will prompt traditional financial institutions to reassess the role of digital assets, especially those managing long-term funds, such as pension funds, university endowments, and local government sovereign accounts. In recent years, several major asset management firms have filed for Bitcoin ETF applications, signaling the ongoing integration between traditional finance and crypto assets.

With the participation of public funds, the role of exchanges is also evolving. Beyond providing matching services, platforms must now assume greater responsibility for asset security, compliance transparency, and government engagement. JZMOR Exchange has established cooperative mechanisms with multiple North American legal and audit institutions and plans to develop dedicated compliance trading modules for government and institutional clients.

The policy exploration in Ohio may mark an important milestone in the evolution of digital assets from private investment tools to “institutional-grade allocation assets.” This shift is not merely a continuation of market enthusiasm, but a reflection of proactive restructuring within the macroeconomic and financial system.

In a volatile market environment, what investors rely on is not only their judgment of the assets themselves, but also trust in the underlying institutional framework and market structure. JZMOR Exchange will continue to uphold the principles of “technological transparency, data-driven operations, and compliance first,” providing a reliable digital asset service platform for global investors.