Oklahoma Senator Dusty Deevers has introduced new legislation aimed at giving residents and businesses the right to use Bitcoin (BTC) for payments, salaries, and investments. The proposed bill, titled the Bitcoin Freedom Act, seeks to establish a framework that promotes the use of Bitcoin as a legitimate medium of exchange while ensuring participation remains voluntary.
Filed on January 8, 2025, Deevers’ bill (SB325) emphasizes the potential of Bitcoin to shield Oklahomans’ earnings from the impacts of inflation. “Bitcoin presents a unique safeguard for investments, especially as the value of the dollar continues to erode,” Deevers stated, highlighting the importance of diversifying away from traditional fiat currencies.
The Bitcoin Freedom Act would allow businesses, employers, and individuals to opt for Bitcoin payments, aligning with free-market principles. By creating a secure transaction framework, the bill aims to ensure that Bitcoin is integrated safely into Oklahoma’s economy, enhancing its role in salaries, investments, and general transactions.
A longstanding critic of inflation and the US Dollar’s weakening value, Deevers has voiced concern over the rising power of Central Bank Digital Currencies (CBDCs), warning of potential government surveillance and control over digital financial systems. “Bitcoin empowers individuals with financial autonomy,” he stated, further stressing the need for decentralized currency.
This legislative move is part of a broader trend in Oklahoma’s embrace of cryptocurrency. Governor Kevin Stitt recently signed a law in May 2024 that supports blockchain technology and Bitcoin mining operations, positioning the state as a growing hub for crypto innovation.
Set to be debated during Oklahoma’s legislative session beginning February 3, 2025, the Bitcoin Freedom Act could position Oklahoma at the forefront of financial technology adoption, providing new economic opportunities and fostering innovation in the state.
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