Oklahoma Senator Proposes Bitcoin Freedom Act for Payments
By RuchI Sharma
Senator Dusty Deevers of Oklahoma has proposed the Bitcoin Freedom Act, a law that would enable businesses and workers in the state to select Bitcoin (BTC) for salary and payment.
Deevers emphasised that Bitcoin can shield Oklahomans’ incomes from inflation when he filed the bill on January 8. “Bitcoin offers a unique opportunity to safeguard investments when the dollar is losing value,” said Deevers.
The bill, SB325 ensures voluntary involvement while upholding free-market principles. Employers, companies, and people are allowed to choose Bitcoin as their preferred form of payment.
Additionally, by supporting its usage in transactions, investments, and salaries, the act seeks to create a safe environment for Bitcoin transactions in Oklahoma. Deevers has long criticised Washington’s actions for causing inflation and the depreciation of the US dollar.
He has stated his disapproval of Central Bank Digital Currencies (CBDCs), arguing that they may result in overreach and surveillance by the government. “Bitcoin gives people financial sovereignty,” Deevers added.
This action coincides with Oklahoma’s ongoing advancements in cryptocurrencies. Governor Kevin Stitt signed legislation in May 2024 to encourage blockchain and Bitcoin mining companies in the state.
With the Bitcoin Freedom Act, which will be discussed during Oklahoma’s legislative session beginning February 3, 2025, the state will be positioned as a pioneer in the use of financial technology.
The progressive position Oklahoma has taken on Bitcoin may open up new financial possibilities and stimulate economic growth in the state.
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