Oklahoma Senator introduces Bitcoin Freedom Act enabling businesses to accept Bitcoin payments

Home » Regulation » Oklahoma Senator introduces Bitcoin Freedom Act enabling businesses to accept Bitcoin payments

State bill opens door to Bitcoin salaries and payments, aiming to safeguard earnings amid rising inflation.

Oklahoma State Senator Dusty Deevers has introduced legislation that would allow employees to receive wages in Bitcoin and businesses to accept the digital asset as payment.

The Bitcoin Freedom Act, known as SB325, is aimed at establishing a framework for the use of Bitcoin in Oklahoma, authorizing its use in transactions, salaries, and investments while ensuring compliance with legal requirements.

“Any employee of this state, business, corporation, other entity, and resident of this state may negotiate and receive payment and compensation, including salaries, wages, and other forms of compensation, in Bitcoin,” according to the bill’s text.

For state employees choosing Bitcoin payments, the legislation requires an agreement with the state to determine whether Bitcoin’s value will be set at the beginning of the pay period or at payment time. Employees can opt to receive their compensation in Bitcoin, US dollars, or both, with the flexibility to modify their choice at the start of each pay period.

Deevers stated that the legislation is a necessary step to protect Oklahomans from inflation.

“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” he said.

Deevers contrasted Bitcoin’s fixed supply with the US dollar, which he claimed is being “printed away in Washington D.C.”

“There is a reason President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events,” Deevers said. “Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future.”

The bill will be reviewed in the upcoming legislative session, starting on February 3. If enacted, it would be Oklahoma’s second major law focused on Bitcoin and digital assets, following a landmark law protecting individuals’ rights to self-custody and mining passed in May 2024.