Oklahoma Senator Dusty Deevers has introduced the Bitcoin Freedom Act, a bill aimed at allowing employees and businesses in the state to choose Bitcoin (BTC) for payments and salaries.
Deevers filed the legislation on January 8, emphasizing that Bitcoin can protect Oklahomans’ earnings in the face of inflation. Bitcoin has the “potential to offset the harms suffered due to inflation and make Oklahoma a national leader who embraces the future of financial technology,” said Deevers.
The bill, SB325, respects free-market principles, ensuring that participation is voluntary. It gives individuals, businesses, and employers the freedom to opt for BTC as a medium of exchange.
The act also aims to establish a secure framework for Bitcoin transactions in Oklahoma, promoting its use in salaries, investments, and transactions. Deevers has long been critical of inflation and the US Dollar’s declining value, blaming Washington’s policies.
He also voiced his opposition to Central Bank Digital Currencies (CBDCs), which he believes could lead to government surveillance and overreach. “Bitcoin gives people financial sovereignty,” Deevers added.
This move comes as Oklahoma continues to make strides in cryptocurrency. In May 2024, Governor Kevin Stitt signed a law to support blockchain and Bitcoin mining businesses in the state.
The Bitcoin Freedom Act, slated for discussion in Oklahoma’s legislative session starting February 3, 2025, positions the state as a leader in embracing financial technology.
Oklahoma’s progressive stance on Bitcoin could offer new financial options and bring innovation to the state’s economy.
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