Oklahoma Senator Introduces Bitcoin Freedom Act to Legalize BTC Payments

Highlights:

• Senator Deevers introduces the Bitcoin Freedom Act, allowing Bitcoin payments for wages and transactions.
• The bill aims to establish a secure framework for Bitcoin use in Oklahoma’s economy.
• Deevers criticizes CBDCs, advocating for Bitcoin’s role in financial sovereignty and freedom.

On January 8, Dusty Deevers, a Republican senator from Oklahoma, filed the Bitcoin Freedom Act. The bill would allow employees to receive wages in Bitcoin and permit businesses to accept it as payment for goods and services. Known as SB325, the bill guarantees voluntary participation. Deevers noted that it respects free-market principles and gives employees, employers, and businesses the freedom to choose their preferred payment options.

The bill aims to establish a secure framework for using Bitcoin in Oklahoma. SB325 will be reviewed during Oklahoma’s 60th legislative session starting February 3. 

If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US Dollar.

Inflation caused by reckless spending and money printing is eroding the purchasing power of Oklahomans. It is past time to start looking at options less vulnerable to D.C.… pic.twitter.com/PrMGWdi7fe

— Dusty Deevers (@DustyDeevers) January 8, 2025

Deevers Pushes Bitcoin Freedom Act to Combat Inflation and Secure Oklahoma’s Financial Future

Deevers emphasized the potential of Bitcoin to protect earnings and investments amid rising inflation. He noted that inflation is reducing the purchasing power of many Oklahomans. “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,” he added.

The legislation requires state employees who choose Bitcoin payments to reach an agreement with the state. This agreement will decide whether Bitcoin’s value is set at the beginning of the pay period or at payment time. Employees can opt to receive their pay in Bitcoin, US dollars, or both. They can also change their selection at the start of each pay period.

Senator Deevers commended President-elect Trump’s pro-Bitcoin campaigning. He added that Bitcoin has now entered the mainstream of the economy. He said Bitcoin is undeniably a significant part of the financial future.

Deevers stated:

“There is a reason President Trump spoke at prominent Bitcoin events. Bitcoin is a clear indicator of the future of finances and this law will help Oklahoma to become a leader in the use of new technologies in finance.”

The bill comes at a time when Bitcoin continues to gain adoption both in the United States and globally. Countries such as Bhutan and the Czech Republic are already considering Bitcoin as part of their economic strategies. Financial analysts predict that more governments and states will embrace Bitcoin by this year, highlighting the need for legislation like the Bitcoin Freedom Act.

Deevers Criticizes CBDCs, Supports Bitcoin for Financial Freedom

Deevers, who also serves as a pastor, spoke out against central bank digital currencies (CBDCs). On January 9, he posted on X that CBDCs enable government overreach and surveillance. He argued that they allow central authorities to track, control, and limit individual transactions. “Bitcoin provides people with financial sovereignty,” he stated. 

This move follows Oklahoma’s ongoing efforts to advance in the cryptocurrency space. Last May, Governor Kevin Stitt endorsed a law promoting blockchain and Bitcoin mining in Oklahoma.

Tomorrow, I’ll talk about the difference between Bitcoin and Central Bank Digital Currencies. For now: CBDCs bad. Bitcoin is not a CBDC.

👉 CBDCs enable government overreach and surveillance. They give central authorities the power to track, control, and restrict individual…

— Dusty Deevers (@DustyDeevers) January 8, 2025

Despite the announcement, Bitcoin remains in a bearish phase, with the token down more than 2%, trading at $94,311 at the time of writing.