A bill has been introduced in Oklahoma to propose Bitcoin salaries and BTC acceptance in business, aiming to protect residents' earnings from inflation.
Senator Dusty Deevers' Initiative
Republican state senator Dusty Deevers has introduced legislation to allow residents and employees in Oklahoma to opt for salaries in Bitcoin. "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 upon introducing the Bitcoin Freedom Act on January 8. He added, "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."
Objectives of Bill SB325
The proposed bill, SB325, is designed to be entirely voluntary, emphasizing free-market principles. It allows employees, employers, and businesses to decide whether to use Bitcoin for transactions, salaries, and investments. One of the bill’s primary objectives is to establish a secure framework for the use of Bitcoin by individuals, businesses, and the state. Deevers highlighted that the legislation positions Oklahoma as a national leader in embracing financial technology, providing citizens with more financial options.
Criticism of Inflation and Bitcoin as an Alternative
Deevers, an outspoken critic of inflation, said, "If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US dollar." He reiterated his commitment to protecting the financial well-being of his constituents, saying, "One of my biggest campaign promises was to fight for the financial well-being of those I represent." On January 9, Deevers also voiced opposition to central bank digital currencies (CBDCs), warning they could lead to government overreach and undermine financial privacy. "Bitcoin promotes financial sovereignty," he said, emphasizing its decentralized and censorship-resistant qualities, which safeguard individuals from government interference or inflationary manipulation.
The bill will be considered during the 60th legislative session starting February 3. Its adoption could affirm Oklahoma's status as a leader in financial technology and offer residents protection from inflationary risks.
