• Oklahoma lawmakers are reviewing two bills that propose Bitcoin adoption, allowing salary payments in BTC and designating it as a state reserve asset.
  • The Bitcoin Freedom Act and Strategic Bitcoin Reserve Act reflect a broader trend among U.S. states exploring Bitcoin for financial stability and inflation hedging.

Oklahoma is emerging as a focal point for Bitcoin-related legislation, with two bills introduced to incorporate the cryptocurrency into the state's financial framework. The proposed laws aim to enable salary payments in Bitcoin (BTC) and establish Bitcoin as a strategic reserve asset for state funds.

Republican Senator Dusty Deevers introduced Senate Bill 325, known as the Bitcoin Freedom Act, which is currently under review in the 60th legislative session. If passed, the law would allow employees and vendors in Oklahoma to opt for payments in BTC.

Deevers emphasized the proposal as a response to inflation concerns, arguing that Bitcoin provides a hedge against the depreciating value of the U.S. dollar.

“In a period when inflation is eroding the purchasing power of workers in Oklahoma, Bitcoin offers a unique opportunity to protect earnings and investments. As Bitcoin continues to grow and the value of the dollar continues to be printed in Washington D.C., Oklahoma must act to protect our citizens,” Deevers said.

The bill also seeks to differentiate Bitcoin from central bank digital currencies (CBDCs), which Deevers has criticized as government-controlled assets that lack the decentralized nature of Bitcoin.

Recently, a separate initiative, House Bill 1203, introduced by State Representative Cody Maynard, proposes designating Bitcoin as a strategic reserve asset for Oklahoma’s pension funds and state savings accounts. The bill aims to allocate a portion of state-held assets into BTC as a safeguard against inflation.

“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard stated, highlighting the cryptocurrency's decentralized nature as a key advantage.

Oklahoma is not alone in exploring Bitcoin as a state asset. Pennsylvania lawmakers have proposed allowing their state treasury to invest up to 10% of assets in Bitcoin, citing similar concerns about inflation and economic stability. In Texas, the Strategic Bitcoin Reserve Act was introduced in December, advocating for the state to hold Bitcoin for at least five years. North Dakota and New Hampshire have also introduced bills to establish digital asset reserves, with New Hampshire considering a broader scope that includes cryptocurrencies beyond Bitcoin.

As Bitcoin continues to gain mainstream recognition, these legislative efforts signal a growing interest among U.S. states to integrate digital assets into public finance. Whether these bills gain approval remains to be seen, but they reflect an increasing push toward state-level cryptocurrency adoption.

Edited by Harshajit Sarmah