Oklahoma Senator Introduces Bitcoin Freedom Act To Allow BTC Payments

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State senator Dusty Deevers from the Republican party has proposed a new law that gives Oklahoma workers and residents the choice to get their wages in Bitcoin, while also permitting companies within the state to accept Bitcoin as a form of payment.

Oklahoma Senator Introduces Bitcoin Freedom Act

On the 8th of January, Senator Dusty Deevers unveiled the Bitcoin Freedom Act, a proposed piece of legislation aiming to enable Bitcoin as a payment choice for both employees and businesses in Oklahoma. Known as SB325, this bill would grant employees the option to receive their salaries in Bitcoin and give merchants the flexibility to accept Bitcoin as a form of payment for their goods and services.

Senator Deevers expressed that the primary digital currency might offer Oklahomans a chance to safeguard their wages and assets against inflation, since it serves as an “attractive option for maintaining wealth.

At a period when inflation is gradually reducing the buying capacity of diligent Oklahomans, Bitcoin presents an exceptional chance to safeguard income and assets. With Bitcoin’s value steadily increasing while the dollar’s worth keeps decreasing due to continuous printing in Washington D.C., Oklahoma needs to take action to secure its citizens.

As per the documentation, the action doesn’t make Bitcoin a legal currency, but it acknowledges its role as a financial asset and means of transaction within the current legal system.

The goal is to create a system that ensures the safe adoption of Bitcoin in the State of Oklahoma for both governmental bodies, private companies, and individuals. This includes giving Bitcoin the legal status as a valid method for conducting transactions, paying wages, and making investments.

Furthermore, SB325 upholds the principle of entirely voluntary participation, aligning with the core values of a free market. This legislation additionally grants employees, employers, and businesses the freedom to select preferred payment methods according to their individual needs.

In the upcoming 60th legislative session, commencing on February 3, there’s a chance that the Bitcoin Freedom Act could be discussed and potentially passed.

US States Working On BTC Reserves

In reference to X, the Republican Senator expressed his concern about the current high inflation in the United States, saying, “If there’s something Washington D.C. can mess up, it probably will. And right now, it seems to be undermining the U.S. dollar.” He believes that it’s overdue for us to explore alternatives that are less susceptible to Washington’s recklessness and ineptitude.

Furthermore, the Senator from Oklahoma also stated that this “potentially transformative albeit modest adjustment” might serve to “counteract the negative impacts of inflation and position Oklahoma as a trailblazer in the realm of advanced financial technology.

This proposed law aligns with similar Bitcoin-focused bills enacted in various American states, such as the establishment of Strategic Bitcoin Reserves (SBR). Recently, Ohio State Representative Derek Merrin has put forth a bill intending to establish a Bitcoin reserve within the state’s treasury.

The “Ohio Bitcoin Reserve Act,” or House Bill 703, proposes setting up a specific account in Ohio’s state funds, providing the Ohio State Treasurer with a legal structure enabling them to invest in and retain Bitcoin assets.

In a similar vein, I find myself reflecting on the recent legislative actions. Namely, Pennsylvania enacted its SBR Act during November, whereas Texas proposed a bill permitting the state to receive taxes, fees, and donations in Bitcoin. Remarkably, this bill also allows for the state to hold these digital assets for a minimum period of five years.

In the first quarter of 2025, the state of Florida, with support from pro-Bitcoin leaders and lobbying efforts by the Florida Blockchain Business Association (FBBA), plans to initiate its Bitcoin Reservation Program.

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2025-01-10 12:41