Oklahoma State Senator Dusty Deevers has introduced a bill to establish Bitcoin as a mainstream financial option in the state.
The proposed legislation, titled the Bitcoin Freedom Act (SB325), seeks to allow residents in Oklahoma to opt for Bitcoin as a method of payment and investment.
The bill encourages voluntary participation, allowing employers, employees, and vendors to opt for Bitcoin in salaries, transactions, and other financial activities. According to the filing, the act aims to
“establish a framework for the secure use of Bitcoin by the State of Oklahoma, private businesses, and individual residents.”
This initiative seeks to empower Oklahomans to adopt modern financial technology.
“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.
“As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people.”
Deevers emphasized the state’s potential to take national leadership by embracing Bitcoin. He noted that the legislation reflects free-market principles and prepares Oklahoma for the evolving financial landscape. The Bitcoin Freedom Act will be debated during the 60th legislative session starting February 3.
The senator, criticizes high inflation and Central Bank Digital Currencies (CBDCs), viewing them as government overreach threatening financial privacy and freedom. He contrasts CBDCs with Bitcoin’s decentralized nature and emphasizes his commitment to addressing inflation and protecting his constituents’ economic well-being. Concerned about the government’s impact on the US dollar, he stated,
“If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US dollar,”
He has previously linked his pro-Bitcoin stance to President-elect Donald Trump’s campaign, which supported Bitcoin’s role in the US economy. He praised Bitcoin’s rise into the financial mainstream and expressed confidence in its potential to protect individuals against inflation and currency devaluation.
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