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Cryptopolitan 2025-01-09 00:04:03

Oklahoma proposes legislation to allow state workers and vendors to be paid in Bitcoin

Oklahoma State Senator Dusty Deever has introduced the Bitcoin Freedom Act (SB325). This bill seeks to allow citizens to escape the existing financial systems as prices continue to soar. The bill, filed for the 60th legislative session on February 3, aims to let Oklahomans get paid in Bitcoin and accept it as a form of payment. He noted that Bitcoin is a decentralized digital currency with a limited supply, which can enable Oklahomans to save their earnings and investments. “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.” Senator Deever Voluntary participation for businesses and workers SB325 emphasizes that using Bitcoin payment options will be completely optional for both employers and employees. The proposal allows business entities and employees to choose the payment they prefer. According to Senator Deevers, Bitcoin is establishing itself as an important part of the traditional financial system. He mentioned that former President Donald Trump endorsed Bitcoin during his campaign and at different conferences. “Bitcoin has arrived into the mainstream of our economy, and it’s an essential part of the financial future,” he said. Oklahoma, through SB325, is trying to position itself as one of the early adaptors of financial technology, benefiting its citizens. The legislation will be considered during the state’s legislative session starting on February 3. He noted, “ This legislation puts Oklahoma in a leadership role nationally, ensuring our state embraces the future of financial technology .” Cryptocurrency adoption across the U.S. Oklahoma’s proposed Bitcoin initiative is in line with other US cities and states that have integrated cryptocurrencies into public service delivery. In November 2024, Detroit said it would become the largest city in the United States to accept cryptocurrency payments for taxes starting in 2025. PayPal will oversee the conversion of the cryptocurrencies to US dollars before the money is deposited into city accounts. In September 2024, Louisiana was the first state to accept cryptocurrency for government services. The supported cryptocurrencies were Bitcoin, Bitcoin Lightning, and USD Coin. The State of Louisiana’s Department of Wildlife and Fisheries received the first cryptocurrency payment on September 17, 2024. In addition, in a post on X, Dennis Porter, co-founder of the Satoshi Action Fund, disclosed that the 14th state is gearing up to bring legislation for the creation of a ‘Strategic Bitcoin Reserve.’ This is after similar attempts in 13 states. This growth shows an increasing interest of U.S. states in adopting Bitcoin as a part of the future economy. From Zero to Web3 Pro: Your 90-Day Career Launch Plan

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