Oklahoma Senator Dusty Deevers has proposed the Bitcoin Liberty Bill, legislation that would enable workers and corporations within the state to opt for Bitcoin (BTC) as their preferred method of payment or salary receipt.
On January 8th, Deever submitted the bill, highlighting that Bitcoin could shield Oklahomans’ savings from the impact of inflation. As Deevers pointed out, Bitcoin presents a distinct chance for preserving assets during times when the U.S. dollar decreases in value.
SB325 upholds the essence of free-trade ideology, making engagement in it an option rather than a requirement. It empowers both individuals and businesses to decide whether they want to utilize Bitcoin as a means of transaction if they so choose.
1) This legislation intends to create a safe environment for Bitcoin transactions within Oklahoma, thereby encouraging its adoption in wages, investments, and general transactions. For years, Deevers has expressed skepticism towards inflation and the eroding worth of the US Dollar, attributing this to the fiscal policies of Washington.
He additionally expressed his disapproval towards Central Bank Digital Currencies (CBDCs), stating that they might result in excessive government monitoring and control. “Bitcoin offers individuals financial autonomy,” Deevers further commented.
This action is taken because Oklahoma has been progressing in the field of cryptocurrency, with Governor Kevin Stitt signing a law back in May 2024 to foster blockchain and Bitcoin mining operations within the state.
In simpler terms, the Bitcoin Freedom Act, set to be discussed during Oklahoma’s legislative sessions starting on February 3, 2025, aims to make the state a pioneer by adopting and promoting innovative financial technologies.
Adopting a forward-thinking approach towards Bitcoin might present fresh financial avenues and stimulate economic innovation within Oklahoma.
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2025-01-09 09:24