Oklahoma Senator Introduces Bill to Legalize Bitcoin Payments

Republican Senator Dusty Deevers has introduced a bill designed to integrate Bitcoin into Oklahoma’s economy. 

The Bitcoin Freedom Act (SB325) seeks to give employees and vendors in the state the option to conduct transactions in Bitcoin, offering an alternative to the inflation-battered U.S. dollar, according to the Senator.

“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” Deevers said in the statement on Wednesday.

If approved, the framework would secure the use of Bitcoin across state agencies, private enterprises, and individual transactions while ensuring compliance with existing regulations.

Deevers framed the bill as a step toward fostering innovation, increasing fiscal transparency, and driving economic growth in the state.

The politician also pointed to Bitcoin’s decentralized nature and fixed supply as safeguards against what he labeled as Washington D.C.’s “reckless spending and money printing.” 

“This small but possibly revolutionary change has the potential to offset the harms suffered due to inflation and make Oklahoma a national leader who embraces the future of financial technology,” Deevers tweeted Wednesday.

The Senator noted Bitcoin’s rise as a “promising alternative for preserving wealth,” tying it to the current political climate. 

“There is a reason President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events,” he remarked. “Bitcoin has entered the mainstream of our economy and is unquestionably a significant part of the financial future.”

Trump’s backing of Bitcoin and his appointment of pro-crypto officials such as Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC) has made the President-elect a key advocate for integrating Bitcoin into the U.S. economy. At least, according to crypto proponents.

This isn’t Oklahoma’s first foray into crypto. Last May, the state passed the Bitcoin Rights Bill (HB3594), protecting residents’ rights to self-custody Bitcoin and use crypto for legal purchases.

The Bitcoin Freedom Act is expected to be considered during the 60th legislative session, beginning on February 3.

Edited by Sebastian Sinclair