Oklahoma Senator Dusty Deevers has introduced the Bitcoin Freedom Act, a legislative proposal aimed at expanding Bitcoin usage for payments across the state.
Filed as Senate Bill 325 (SB325) on January 8, the measure seeks to empower both employees and businesses to adopt Bitcoin as a method for financial transactions.
The Bitcoin Freedom Act would allow Oklahoma-based employees to opt for Bitcoin as a wage payment method while permitting businesses to accept the cryptocurrency for goods and services. Senator Deevers believes the bill could play a pivotal role in protecting citizens against inflation while pushing the state toward financial innovation.
Combatting Inflation with the Bitcoin Freedom Act
Senator Deevers introduced the Bitcoin Freedom Act as a strategic response to growing concerns over inflation. He argues that Bitcoin’s fixed supply offers a hedge against the declining purchasing power caused by excessive monetary expansion.
“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” Deevers stated.
Unlike the US dollar, which can be devalued due to aggressive government monetary policies, Bitcoin operates on a deflationary model with a capped supply of 21 million coins. Deevers believes the Bitcoin Freedom Act offers a financial safeguard against reckless fiscal policies.
He added on social media:
“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.”
The Bitcoin Freedom Act Emphasizes Voluntary Participation
The Bitcoin Freedom Act focuses on financial freedom, making participation fully voluntary. Oklahoma employees would have the choice to receive part or all of their wages in Bitcoin, while businesses could decide whether to accept Bitcoin payments for goods and services.
This flexibility ensures that individuals and enterprises can embrace Bitcoin without mandates. Senator Deevers emphasized that the bill is not about replacing the US dollar but offering Bitcoin as a parallel payment option.
“There is no compulsion. The Bitcoin Freedom Act simply provides Oklahomans with more control over how they receive and manage their earnings,” Deevers clarified.
Deevers cited Bitcoin’s growing role in mainstream finance as a key motivator behind the Bitcoin Freedom Act. He highlighted how former President Donald Trump recently supported Bitcoin, further elevating its prominence in national economic discussions.
“There’s a reason President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events. Bitcoin has arrived in the mainstream economy and is unquestionably a significant part of the financial future,” Deevers noted.
Notably, following Trump’s election victory, Bitcoin surged to new all-time highs, reinforcing its relevance as a financial asset.
Oklahoma Could Lead the Crypto Revolution with the Bitcoin Freedom Act
If passed during the 60th legislative session starting February 3, the Bitcoin Freedom Act could position Oklahoma as a pioneer in state-level cryptocurrency adoption. Senator Deevers envisions the bill placing the state at the forefront of the digital asset revolution while encouraging innovation and financial freedom.
The Bitcoin Freedom Act mirrors broader trends across the US. Several states are exploring legislation that recognizes Bitcoin’s growing economic role. Ohio State Representative Derek Merrin recently proposed a bill to create a Bitcoinreserve in the state treasury, emphasizing Bitcoin’s resilience compared to the devaluing dollar.
“In a time of monetary uncertainty, Bitcoin can provide financial diversification for state treasuries,” Merrin commented.
Similar Bitcoin reserve proposals have also emerged in Texas, Pennsylvania, and Florida, underlining a nationwide shift toward cryptocurrency consideration in public policy.
Why the Bitcoin Freedom Act Matters for Oklahoma
The Bitcoin Freedom Act could offer multiple benefits to Oklahoma’s economy:
Financial Security: Bitcoin’s fixed supply could help protect wages and savings from inflation.
Economic Innovation: The bill encourages Bitcoin adoption, positioning Oklahoma as a hub for blockchain and crypto businesses.
Increased Payment Options: Employees and businesses gain flexibility in choosing Bitcoin for transactions.
Cryptocurrency analyst Michael Carter praised the bill, stating:
“The Bitcoin Freedom Act is a forward-thinking move. Offering Bitcoin as a wage option could modernize payroll systems while safeguarding income from monetary devaluation.”
Bitcoin Freedom Act Could Redefine Oklahoma’s Financial Future
The Bitcoin Freedom Act presents a bold step toward financial empowerment in Oklahoma. By allowing employees and businesses to voluntarily adopt Bitcoin for payments, the bill could help citizens combat inflation and embrace modern financial tools.
As Bitcoin’s presence in mainstream finance continues to grow, Senator Dusty Deevers’ Bitcoin Freedom Act could mark a historic turning point in Oklahoma’s economic landscape. If passed, it could inspire other states to follow suit, further solidifying Bitcoin’s role as a legitimate financial asset.
Lawmakers will debate the Bitcoin Freedom Act starting February 3, with the potential to reshape how Oklahoma approaches digital currency payments. Stay updated with the latest developments in the cryptocurrency industry through The BIT Gazette
