Just In: Oklahoma Senator Proposes Bitcoin Freedom Act to Fight Inflation

Oklahoma State Senator Dusty Deevers has introduced the Bitcoin Freedom Act (SB325), a new proposal aimed at providing Oklahomans with alternative financial options in the face of rising inflation.

The bill, filed for consideration in the 60th legislative session beginning February 3, would allow workers in Oklahoma to voluntarily opt to receive wages in Bitcoin. It would also enable businesses in the state to accept Bitcoin as a payment method.

Oklahoma Senator Proposes Bitcoin Freedom Act

Senator Deevers, a Republican from Elgin, has highlighted concerns over inflation and its impact on purchasing power. In a statement, he said that Washington D.C.’s monetary policies, including excessive spending and money printing, are eroding the value of the U.S. dollar. He framed Bitcoin as a decentralized currency with a fixed supply, offering an alternative that could help Oklahomans protect their earnings and investments.

“Bitcoin provides a unique opportunity to protect earnings and investments,” Deevers said. “As the dollar continues to lose value due to inflation, Oklahoma must act to protect our people.”

Bitcoin, which operates on blockchain technology, is increasingly regarded as a store of value. Unlike fiat currencies, it cannot be devalued through increased supply or monetary policies, making it appealing to those concerned about inflation.

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