Investing.com – Cryptocurrencies struggled to gain steam on Monday, as Bitcoin remained near a 14-month low.

Bitcoin fell 0.20% to $3.933.90 on the Investing.com Index, as of 9:00 AM ET (14:00 GMT), after falling to a 14-month low of $3,790.00 on Sunday.

Virtual coins were hit with volatility in mid-November, as worry over a hard fork in Bitcoin cash caused the coin to go below $6,000. The digital currency is down over 75% from its peak of $20,000 in 2017.

Cryptocurrencies overall were slightly higher, with the total coin market capitalization at $127 billion at the time of writing, compared to $115 billion on Sunday.

Ethereum,or Ether, decreased 0.65% to $112.42 and Litecoin was at $30.558, up 2.08%, while XRP inched up 0.89% to $0.36484.

Meanwhile, Ohio has become the first U.S. state to allow companies to pay their states taxes with digital coins.

Companies can sign up for the service at Ohiocrypto.com, and will be able to pay for everything from cigarette taxes to employee withholding taxes. Although it is just available for businesses, the state plans to extend it to individuals, the Wall Street Journal reported.

Other states have looked into allowing citizens to pay for taxes with cryptocurrencies, but plans in Arizona and Georgia were scrapped due to insufficient votes and lack of understanding.

In other news, Thailand issued warnings to 14 virtual currency companies that have not been approved by the Thai Securities and Exchange Commission.

Under current Thai law, crypto companies wishing to operate must get regulatory approval from the SEC. Only seven companies have been temporarily approved while their applications are being approved.

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