- Oklahoma’s Bitcoin Freedom Act allows residents to opt for Bitcoin payments, positioning the state as a crypto adoption leader.
- Senator Deevers promotes Bitcoin as a hedge against inflation, highlighting its decentralized nature and financial sovereignty benefits.
- Oklahoma builds on pro-crypto laws, ensuring privacy and innovation while rejecting central bank digital currencies’ surveillance risks.
Oklahoma State Senator Dusty Deevers has introduced legislation allowing Bitcoin as a payment option for salaries and transactions. The Bitcoin Freedom Act, introduced on Jan. 8, enables residents and businesses to embrace Bitcoin voluntarily. Deevers highlighted Bitcoin’s potential to counter inflation and strengthen financial sovereignty.
The bill, SB325, outlines a framework for Bitcoin’s secure use within the state. It authorizes Bitcoin as a medium for transactions, salaries, and investments. According to Deevers, this initiative positions Oklahoma as a national leader in adopting financial technology. He also emphasized that participation would remain optional, aligning with free-market principles.
Bitcoin as a Hedge Against Inflation
Inflation is a growing concern for many Americans, including Oklahomans. The U.S. inflation rate climbed to 2.7% in December 2024, an increase since September. Deevers argued that Bitcoin provides a hedge against inflation, which erodes the dollar’s purchasing power.
Deevers criticized Washington, D.C., for contributing to inflation through excessive money printing. He noted his commitment to mitigating inflation’s effects on his constituents. Bitcoin’s decentralized nature, he stated, offers individuals financial sovereignty, unlike central bank digital currencies (CBDCs).
Oklahoma’s Push for Crypto-Friendly Policies
This bill builds on Oklahoma’s previous pro-crypto legislation. In May 2024, Governor Kevin Stitt signed a law supporting blockchain firms and Bitcoin mining operations. This framework attracted crypto businesses to the state and promoted innovation in financial technology.
Deevers underscored Bitcoin’s advantages over CBDCs, highlighting privacy and freedom. He criticized CBDCs for enabling government overreach and surveillance of financial transactions. Conversely, Bitcoin’s decentralized design prevents such interference and manipulation.
The Bitcoin Freedom Act reflects broader trends as Bitcoin becomes mainstream in global financial systems. Deevers praised President-elect Donald Trump for advocating Bitcoin during his campaign. He called the cryptocurrency a cornerstone of the financial future.
The act will be considered in the legislative session starting Feb. 3, 2025. Deevers remains committed to protecting financial freedom while empowering Oklahomans with innovative economic choices. Consequently, this legislation could signal a shift in how states approach cryptocurrency adoption.
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