Oklahoma Moves to Adopt Bitcoin as State Currency to Fight Inflation
Oklahoma is considering a pioneering bill that could see Bitcoin price adopted as an alternative currency in state agencies, aiming to protect citizens' purchasing power and encourage cryptocurrency adoption. Republican Senator Dusty Deevers introduced the Bitcoin Freedom Act (SB325), which seeks to allow state employees and vendors to receive Bitcoin payments.
The bill, if passed, would implement Bitcoin payments for employees and vendors on a voluntary basis. This move aligns with Oklahoma's goal to guarantee its leadership in innovation and Bitcoin adoption. While Oklahoma is not the first state to explore Bitcoin adoption, with others like Florida, Pennsylvania, Ohio, and Alabama considering similar measures, it aims to protect its citizens from inflation and uncontrolled federal spending. Bitcoin's limited supply of 21 million units makes it an attractive alternative to preserve savings and investments. The bill also ensures that all Bitcoin transactions comply with existing financial regulations.
The Bitcoin Freedom Act (SB325) is currently under discussion in Oklahoma. If passed, it would allow cryptocurrency transactions in state agencies, providing citizens with an alternative to the dollar and protecting them from inflation and federal spending. The bill seeks to position Oklahoma as a leader in Bitcoin adoption while ensuring all transactions adhere to financial regulations.
