Oklahoma Republican state senator Dusty Deevers has introduced groundbreaking legislation aimed at empowering the state’s residents and businesses to embrace Bitcoin. Known as the Bitcoin Freedom Act, the proposed bill , filed on January 8, seeks to enable employees and vendors in Oklahoma to opt for Bitcoin as a payment option for salaries and transactions. Senator Deevers emphasized the importance of acting swiftly, adding, “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.” The bill, designated as SB325, ensures participation is voluntary, aligning with free-market principles. It provides a framework for the secure use of Bitcoin by the state, private businesses, and individuals while designating the cryptocurrency as an acceptable medium for salaries, investments, and transactions. A Vision for Financial Freedom Senator Deevers’ support for Bitcoin reflects his broader vision of financial independence. Praising President-elect Donald Trump’s pro-Bitcoin stance, Deevers declared, “Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future.” He further argued that the legislation positions Oklahoma as a leader in embracing financial technology. Deevers also used the opportunity to criticize central bank digital currencies (CBDCs) , which he believes pose a threat to individual freedoms. “CBDCs give central authorities the power to track, control, and restrict individual transactions, undermining financial privacy and freedom,” he wrote on X, formerly Twitter, on January 9. He described Bitcoin as a counterbalance, praising its decentralized nature, censorship resistance, and ability to promote financial sovereignty. This proposal comes amidst rising concerns over inflation in the U.S. , which currently stands at 2.7%, according to Trading Economics. Senator Deevers has been vocal about the impact of inflation on everyday Americans, blaming federal policies for devaluing the dollar. He highlighted his commitment to protecting the financial well-being of Oklahoma residents, calling Bitcoin a tool to offset the economic challenges caused by inflation. Growing Crypto Infrastructure in Oklahoma Oklahoma has already demonstrated a commitment to supporting cryptocurrency innovation. In May 2024, Governor Kevin Stitt signed into law a bill that established a legal framework for blockchain companies and safeguarded crypto mining operations. This legislation, which became effective in November, made it easier for Bitcoin miners to operate in the state . The Bitcoin Freedom Act will be considered in the 60th legislative session, set to begin on February 3. If approved, it could make Oklahoma a trailblazer in state-level Bitcoin adoption and further solidify its position as a hub for blockchain technology. The post Oklahoma Senator Proposes Bitcoin Freedom Act to Combat Inflation appeared first on TheCoinrise.com .
