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Oklahoma has taken a big step towards cryptocurrency adoption as Republican Senator Dusty Deevers introduced the Bitcoin Freedom Act, SB325. The proposed bill is to make Bitcoin a legal tender in the state so employees can be paid in Bitcoin and vendors can accept it as payment. Its aim is to serve as an alternative to the inflated US dollar and to fix economic problems. 
Revolutionizing Oklahoma Payments
According to reports, Senator Deevers announced the bill on Wednesday and said:
“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments”
The bill would allow state agencies, private businesses, and individuals to use Bitcoin while still being in compliance with current laws. If passed, Oklahoma would be the first to integrate Bitcoin into its economy, innovation, and transparency.
Deevers went on to say Bitcoin’s decentralized and capped supply makes it a hedge against Washington D.C.’s alleged ‘reckless spending and money printing.’
“This small but possibly revolutionary change has the potential to offset the harms suffered due to inflation and make Oklahoma a national leader who embraces the future of financial technology,” Deevers tweeted on Wednesday.
Bitcoin and Politics: A Growing Trend
The Bitcoin Freedom Act is part of a broader national trend of crypto adoption. President-elect Trump has recently shown pro-Bitcoin vibes. Senator Deevers said the interest in Bitcoin is due to the current political climate and called it a “good way to preserve wealth”.
There is a reason President Trump campaigned as a pro-Bitcoin candidate and spoke at big Bitcoin events,” Deevers said. “Bitcoin is in the mainstream of our economy and it’s a big part of the financial future.”
Trump’s previous pro-Bitcoin moves include appointing Paul Atkins to key financial regulatory positions. To supporters, this is a sign the federal government is starting to recognize Bitcoin’s role in the US economy.
Building on a Crypto-Friendly Foundation
This isn’t the first time Oklahoma has dabbled in cryptocurrency legislation, sources say. The state reportedly passed the Bitcoin Rights Bill, HB3594, in May 2024 which gave its residents the right to self custody Bitcoin and use cryptocurrencies for lawful transactions. The Bitcoin Freedom Act builds on that foundation to make Oklahoma one of the first states in this digital finance space.
Deevers wants to attract crypto entrepreneurs, grow the economy and make Oklahoma the hub for blockchain innovation by getting Bitcoin into everyday transactions. However, the fate of this bill still remains uncertain as the 60th legislative session starts on February 3.
Conclusion
The Bitcoin Freedom Act by Senator Dusty Deevers is a big step toward mainstream cryptocurrency adoption in Oklahoma. He’s creating a framework to legalize Bitcoin payments and get this asset into the Oklahoma economy, combat inflation, innovation and growth. Now, the heat is on Oklahoma to see if it will be a national leader in financial technology.
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FAQs
1. What is the Bitcoin Freedom Act?
SB325, known as the Bitcoin Freedom Act, allows Oklahoma to consider payment in Bitcoin to employees and acceptance by vendors from customers for products or services purchased using the cryptocurrency.
2. Why is Bitcoin seen as a solution to inflation?
BTC is decentralized and has a predetermined and limited supply. This means that it is resistant both to inflation as well as from the devaluation of fiat currencies, such as that of the American dollar.
3. What’s the difference between the Bitcoin Freedom Act and the Bitcoin Rights Bill?
The Bitcoin Rights Bill, HB3594, gave residents the right to self-custody Bitcoin for lawful transactions, but the Bitcoin Freedom Act gets Bitcoin into everyday transactions across the state.
4. When will the Bitcoin Freedom Act be heard?
It will supposedly be considered during the 60th legislative session,n which starts on February 3, 2025.
5. What does Senator Dusty Deevers say about Bitcoin?
Senator Deevers calls Bitcoin a protector of earnings, an innovator and a hedge against inflation; he’s positioning Bitcoin into the foundation of Oklahoma’s economic future.
