Key takeaways
- The Bitcoin Freedom Act allows Oklahoma businesses to accept Bitcoin and employees to be paid in Bitcoin.
- The legislation is expected to enter into force on 1 November 2025 and contains provisions on tax consequences and payment agreements.
Oklahoma State Senator Dusty Deevers have introduced legislation that would allow employees to be paid in Bitcoin and businesses to accept the digital asset as payment.
The Bitcoin Freedom Actknown as SB325, aims to establish a framework for the use of Bitcoin in Oklahoma, authorizing its use in transactions, wages 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 wages, salaries and other forms of compensation, in Bitcoin,” according to the bill.
For government employees who choose Bitcoin payments, the legislation requires an agreement with the government to determine whether the Bitcoin’s value will be determined at the beginning of the payment period or at the time of payment. Employees can choose to receive their compensation in Bitcoin, US dollars or both, with the flexibility to change their choice at the start of each pay period.
Deevers stated that the legislation is a necessary step to protect Oklahomans from inflation.
“At a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect income and investments,” he said.
Deevers contrasted Bitcoin’s fixed supply with the US dollar, which he claimed is being “printed in Washington DC”
“There’s a reason President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events,” Deevers said. “Bitcoin has entered the mainstream of our economy and is undoubtedly a significant part of the financial future.”
The bill will be reviewed during the upcoming legislative session, starting on February 3. If it goes into effect, it would be Oklahoma’s second major law focused on Bitcoin and digital assets, the following a landmark law protecting individuals’ right to self-care and mining was passed in May 2024.
