The Bitcoin Freedom Act has a long way to go if it’s to be approved
Oklahoma Senator Dusty Deevers has introduced a new bill aimed at allowing employees and residents in the state to receive wages in Bitcoin. Known as the Bitcoin Freedom Act, the legislation provides a framework for businesses and individuals to use Bitcoin for salaries, transactions, and investments.
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. It is past time to start looking at options less vulnerable to D.C.… pic.twitter.com/PrMGWdi7fe
— Dusty Deevers (@DustyDeevers) January 8, 2025
Senator Deevers emphasized the voluntary nature of the bill. For him, this aligns with free-market principles and empowers participants to choose their preferred payment methods.
Deevers highlighted Bitcoin as a solution for combating the effects of inflation, which has eroded purchasing power across the US. He pointed out that Bitcoin’s decentralized and finite design offers a unique way to preserve earnings and financial stability. The senator also criticized the ongoing devaluation of the US dollar, citing federal monetary policies as a key factor in its diminishing value.
The bill labeled SB325, positions the Sooner State as a leader in embracing cryptocurrency technology. Deevers stated that the legislation reflects a forward-thinking approach to financial innovation, enabling the state to stay competitive in the evolving economic landscape. The act will be up for discussion in the 60th legislative session starting February 3.
Deevers, who has been outspoken about his opposition to central bank digital currencies (CBDCs), argued that such technologies could lead to overreach and compromise individual financial privacy. He described Bitcoin as a tool for financial sovereignty, noting its resistance to censorship and government interference.
This initiative builds on Oklahoma’s existing efforts to integrate blockchain technology. In May 2024, Governor Kevin Stitt signed a law to support blockchain businesses and Bitcoin mining operations, further solidifying the state’s role in the cryptocurrency sector. Deevers sees this latest bill as another step toward safeguarding the financial well-being of Oklahomans amid rising inflation.
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