Oklahoma Senator Dusty Deevers has introduced a groundbreaking bill, the Bitcoin Freedom Act, aimed at integrating BTC into the state’s payment ecosystem. Filed on January 8, the proposed legislation seeks to provide employees and businesses with the option to use Bitcoin for transactions, salaries, and investments.
Inside Oklahoma Senator’s Bitcoin Bill
Senator Deevers believes Bitcoin could shield Oklahomans from the adverse effects of inflation and provide a pathway to financial stability. “Bitcoin offers an opportunity to mitigate the impact of inflation and position Oklahoma as a leader in adopting future financial technologies,” said Deevers.
The bill, formally known as SB325, adheres to free-market principles and emphasizes voluntary participation. Businesses and individuals would have the liberty to choose BTC as a payment method without coercion. Deevers highlighted that the framework ensures security and trust, aiming to facilitate Bitcoin’s use in various financial transactions across the state.
INTEL: An Oklahoma senator proposes the Bitcoin Freedom Act to allow salaries and payments in $BTC
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A vocal critic of inflation and current federal monetary policies, Deevers has expressed concerns about the declining value of the US Dollar. He has also been a strong opponent of Central Bank Digital Currencies (CBDCs), warning that such currencies could enable invasive government control over citizens’ financial activities. “Bitcoin empowers individuals with financial sovereignty,” he stated, stressing its role in protecting personal freedoms.
This initiative builds on Oklahoma’s recent steps toward embracing cryptocurrency and blockchain technologies. In May 2024, Governor Kevin Stitt signed legislation supporting Bitcoin mining and blockchain enterprises, signaling the state’s openness to innovation in financial technology.
The Bitcoin Freedom Act is set to be discussed during Oklahoma’s legislative session, which begins on February 3, 2025. If passed, the legislation could enhance the state’s reputation as a forward-thinking hub for digital finance.
Oklahoma’s progressive stance on Bitcoin may also attract businesses and investors, fostering economic growth and technological advancements. Deevers’ vision aligns with a broader trend of states exploring crypto’s potential to redefine traditional financial systems. Recently, Pennsylvania and Texas officials even proposed the creation of a BTC reserve for the state.
Also Read: When Will Bitcoin’s Price Decline End? Key Factors to Watch
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