Oklahoma Moves Toward Bitcoin Adoption with New Bill

Republican Senator Dusty Deavers has proposed a new bill, the "Bitcoin Freedom Act" (SB325), aimed at integrating Bitcoin into Oklahoma’s economy. If passed, the legislation would provide citizens and government employees with the option to use Bitcoin as an alternative to the US dollar for daily transactions. This would include dealings with government agencies, private businesses, and individuals, while adhering to existing regulations.

Deavers believes this bill will foster innovation, enhance financial transparency, and support the state’s economic growth. He emphasized Bitcoin’s decentralized nature and fixed supply as safeguards against what he referred to as "reckless spending and money printing" by Washington, D.C.

“There’s a reason why President Trump campaigned as a pro-Bitcoin candidate and spoke at prominent Bitcoin events. Bitcoin has entered the mainstream economy and is undoubtedly a significant part of our financial future,” he said.

Supporters of digital currencies highlight that Trump’s backing of Bitcoin, along with his appointment of pro-crypto officials like Paul Atkins to lead the Securities and Exchange Commission (SEC), has positioned him as a key advocate for incorporating Bitcoin into the U.S. economy.

This isn’t Oklahoma’s first venture into cryptocurrency. In May, the state passed the "Bitcoin Rights Bill" (HB3594), ensuring residents’ rights to own and use Bitcoin in legal transactions. The Bitcoin Freedom Act is scheduled for discussion during the 60th legislative session, set to begin on February 3.