Oklahoma Senator Dusty Deevers has introduced the “Bitcoin Freedom Act” to expand the use of Bitcoin (BTC) in the state.
The bill, announced on January 8, aims to make it possible for employees and businesses to use Bitcoin for salary payments and commercial transactions.
Deevers said the bill would protect Oklahomans’ earnings in the face of inflation. “Bitcoin presents a unique opportunity to secure investments at a time when the dollar is depreciating,” the senator said.
The bill respects free market principles while allowing individuals and businesses to participate voluntarily in Bitcoin usage. It also aims to ensure that Bitcoin transactions in Oklahoma are conducted in a secure environment. Deevers said this step will innovate the state’s economy and provide people with financial sovereignty.
The senator is particularly known for his criticism of Central Bank Digital Currencies (CBDCs). He believes that CBDCs could be used by the government to monitor and over-control individuals’ financial movements. In contrast, he said that Bitcoin offers people more privacy and freedom.
Oklahoma has been making pioneering moves in cryptocurrency and blockchain technology in recent years. In May 2024, Oklahoma Governor Kevin Stitt signed legislation supporting Bitcoin mining and blockchain businesses in the state. Now, the Bitcoin Freedom Act is awaiting consideration in the legislative session that begins on February 3, 2025.
Stay tuned