Bitcoin Freedom Act: Aiming for Economic Innovation in Oklahoma
Republican Senator Dusty Deevers introduced the Bitcoin Freedom Act (SB325), a proposed bill seeking to allow Bitcoin payments in Oklahoma. This initiative would enable state employees to receive salaries in Bitcoin and vendors to accept it for goods and services. The bill represents a push to integrate decentralized finance into the state economy while providing an alternative to the inflation-prone U.S. dollar.Protecting Wealth Amid Inflationary Pressures
Deevers emphasized the advantages of Bitcoin's decentralized nature and limited supply. He argued that Bitcoin could shield Oklahomans from inflation caused by excessive government spending and monetary policy. “Bitcoin provides an opportunity to protect earnings and investments while fostering innovation,” Deevers stated, linking the proposal to broader economic resilience goals.Building on Prior Legislation and Industry Momentum
The bill follows Oklahoma's Bitcoin Rights Bill (HB3594), passed last May, which ensured residents could self-custody Bitcoin and use it for legal transactions. The proposed Bitcoin Freedom Act expands this framework by including Bitcoin in payroll and vendor transactions. Oklahoma’s proactive stance could establish it as a national leader in adopting cryptocurrency-friendly policies.Tapping Into Broader National Trends
The proposed legislation aligns with the growing national and global adoption of Bitcoin. President-elect Donald Trump’s pro-Bitcoin platform has furthered the cryptocurrency’s acceptance. Oklahoma’s legislative move reflects broader efforts to normalize Bitcoin use in state-level and federal systems, setting a potential model for other states.
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