TLDR
- Oklahoma Senator Dusty Deevers Introduced Bitcoin Freedom Act (SB325)
- Bill allows employees to be paid in Bitcoin
- Businesses can accept Bitcoin as payment
- Implementation planned for 1 November 2025
- Employees can choose Bitcoin, USD or combination for compensation
Oklahoma State Senator Dusty Deevers has introduced new legislation that could reshape how residents and businesses handle financial transactions in the state.
The Bitcoin Freedom Act, formally known as SB325aims to establish clear guidelines for the use of Bitcoin in everyday transactions, including salary payments and business operations.
The proposed legislation, scheduled to take effect on November 1, 2025, would allow Oklahoma state employees, businesses, corporations and residents to accept payments and compensation in Bitcoin. This includes various forms of compensation such as wages and salaries.
Under the new bill, participation would remain entirely voluntary, in accordance with free market principles. Employees would have the flexibility to choose whether to receive their compensation in Bitcoin, US dollars or a combination of both currencies.
For government employees who choose Bitcoin payments, the legislation requires a formal agreement with the government. This agreement would specify whether Bitcoin’s value will be determined at the beginning of the payment period or at the time of payment.
The bill includes payment change provisions that allow employees to adjust their payment preferences at the start of each new pay period. This feature allows workers to customize their compensation structure based on their financial needs.
Senator Deevers has positioned the legislation as a response to economic problems, particularly focusing on the impact of inflation on Oklahoma residents. The bill aims to provide alternative payment options while maintaining compliance with the existing legal framework.
The proposed legislation targets both the private and public sectors and creates a comprehensive framework for Bitcoin adoption in various economic activities throughout the state. This includes provisions for businesses to accept Bitcoin payments from customers.
The timing of the bill coincides with Oklahoma’s 60th legislative session, which is set to begin on February 3, 2025. This gives lawmakers sufficient time to review and debate the implications of the proposed legislation.
The Bitcoin Freedom Act includes specific provisions for tax consequences and payment agreements, ensuring that all transactions remain compliant with state and federal regulations. These guidelines aim to create a clear structure for implementing cryptocurrency payments in the state.
The bill represents part of a broader trend of cryptocurrency adoption initiatives across the United States. Other states have explored similar legislation, though Oklahoma’s approach focuses specifically on payment flexibility and voluntary participation.
The implementation details in the bill describe the technical and administrative requirements for both employers and employees. This includes systems for recording and processing Bitcoin-based transactions and compensation.
The legislation addresses the need for clear documentation and record-keeping procedures for Bitcoin transactions, ensuring transparency and accountability in all payment processes.
For businesses considering using Bitcoin, the bill provides guidelines on how to implement cryptocurrency payment systems while maintaining compliance with existing financial regulations.
Government agencies would need to establish new protocols and systems to handle Bitcoin payments for employees who choose this option. This includes creating secure methods for processing and storing cryptocurrency transactions.
The final version of the bill awaits review and possible changes in the upcoming legislative session, with implementation slated for late 2025.
