Oklahoma Senator Introduces Bitcoin Freedom Act to Boost Crypto Adoption

Republican Senator Dusty Deevers of Oklahoma has proposed SB325, the Bitcoin Freedom Act, a bill designed to integrate BTC into the Oklahoma economy by allowing employees to choose Bitcoin as a payment method and allowing businesses to accept these transactions

Deevers framed the proposal as a response to inflation, which he said erodes the purchasing power of Oklahomans. He highlighted Bitcoin’s potential as a hedge against inflation due to its fixed supply and decentralized nature, contrasting it with traditional currencies affected by monetary policies.

Bitcoin as a paycheck?

Interestingly, the bill in question promotes voluntary participation and aims to increase financial flexibility for employees and businesses while positioning Oklahoma as a leader in financial technology.

Citing Bitcoin’s growing acceptance, Deevers emphasized the crypto asset’s primary relevance and alignment with free market principles.

“There’s a reason why President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events. Bitcoin has entered the mainstream of our economy and is undoubtedly an important part of of the financial future. This legislation places Oklahoma in a leadership role nationally, ensuring our state embraces the future of financial technology while providing our citizens with more financial options.”

SB325 will be considered in the upcoming 60th legislative session beginning February 3rd.

The latest development comes after Oklahoma Governor Kevin Stitt signed a landmark bill last May that creates a legal framework for blockchain technology and digital assets. The legislation prevents government restrictions on the legal use of digital assets, prohibits additional taxes on crypto payments, and legitimizes the mining of digital assets, with noise ordinances that apply to both residential and industrial areas.

Other jurisdictions, including Texas, Louisiana, Montana, and Arkansas, have passed similar laws safeguarding cryptomining and custody rights.

Meanwhile, Deevers’ proposal reflected a broader movement among US states to adopt Bitcoin-friendly policies as they move forward with their own ambitious crypto initiatives.

Bitcoin Push

Ohio Representative Derek Merrin recently introduced House Bill 703, the Ohio Bitcoin Reserve Act that allowed the state treasurer to invest public funds in Bitcoin. Citing concerns about the devaluation of the dollar, Merrin considered Bitcoin a revolutionary tool to preserve financial value and strengthen Ohio’s fiscal framework.

The legislation, while not mandatory, allows for strategic allocation decisions involving Bitcoin. Similar movement was seen in Pennsylvania and Texas.

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