{"id":34401,"date":"2025-01-09T10:38:34","date_gmt":"2025-01-09T10:38:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34401"},"modified":"2025-01-09T10:38:34","modified_gmt":"2025-01-09T10:38:34","slug":"oklahoma-senator-proposes-bill-to-allow-salaries-and-payments-in-bitcoin","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34401","title":{"rendered":"Oklahoma Senator Proposes Bill To Allow Salaries And Payments In Bitcoin"},"content":{"rendered":"

Republican state senator Dusty Deevers has introduced the Bitcoin Freedom Act<\/span>, a bill that<\/span> would allow Oklahoma employees and residents to receive salaries in Bitcoin (BTC) and enable businesses to accept BTC payments. <\/span><\/p>\n

The legislation, <\/span>filed on 8 January 2025<\/span><\/a>, aims to empower Oklahomans to adopt Bitcoin <\/span>as a means<\/span> to preserve financial stability amid rising inflation.<\/span><\/p>\n

\u201cIn a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,\u201d said Deevers. \u201cOklahoma must act to protect our people.\u201d<\/span><\/p>\n

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Bitcoin Freedom Act Allows Voluntary Participation<\/span><\/h2>\n

The proposed bill, <\/span>labeled<\/span> SB325, emphasizes voluntary participation, allowing employees, employers, and businesses to decide whether to adopt Bitcoin. <\/span><\/p>\n

According to the bill, one <\/span>of its objectives<\/span> is to establish a secure framework for using Bitcoin <\/span>in state<\/span> transactions, private businesses, and individual investments.<\/span> Another is <\/span>to officially authorize Bitcoin as a medium for salaries and transactions<\/span>.<\/span><\/p>\n

Deevers praised President-elect Donald Trump\u2019s pro-Bitcoin stance, noting that Bitcoin has become mainstream and is vital to the financial future. \u201cThis legislation positions Oklahoma as a national leader while giving our citizens greater financial freedom,\u201d he stated.<\/span><\/p>\n

The Bitcoin Freedom Act will be <\/span>up for debate<\/span> during Oklahoma\u2019s 60th legislative session, which begins on 3 February 2025.<\/span><\/p>\n

If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US Dollar.<\/p>\n

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.\u2026 pic.twitter.com\/PrMGWdi7fe<\/a><\/p>\n

\u2014 Dusty Deevers (@DustyDeevers) January 8, 2025<\/a><\/p>\n\n

Deevers has been vocal about inflation concerns and Washington\u2019s fiscal policies. \u201cIf Washington DC can ruin something, it likely will. And it is <\/span>certainly<\/span> ruining the US dollar,\u201d he said on social media. <\/span><\/p>\n

As part of his campaign promises, Deevers committed to addressing the financial struggles caused by inflation and providing innovative solutions for his constituents.<\/span><\/p>\n

The senator, also a pastor, criticized central bank digital currencies (CBDCs), calling them tools for government overreach and surveillance. \u201cCBDCs enable authorities to track, control, and restrict transactions, undermining financial privacy,\u201d he warned.<\/span><\/p>\n

In contrast, Deevers praised Bitcoin for its decentralized and censorship-resistant design, which he argued promotes financial sovereignty and independence from inflationary manipulation.<\/span><\/p>\n

Inflation in the US, which surged to a four-decade high of over 9% during the pandemic, has been rising again since late 2024, currently standing at 2.7%, according to Trading Economics.<\/span><\/p>\n

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Czech Explores Bitcoin As Potential Reserve Asset<\/span><\/h2>\n

Notably, there has been a growing momentum in Bitcoin\u00a0adoption,\u00a0as smaller nations like El Salvador and Bhutan continue to use Bitcoin reserves as part of their economic strategies.<\/span><\/p>\n

Recently, the governor of the Czech National Bank (CNB), Ale\u0161 Michl, expressed interest in Bitcoin as a potential diversification option for the\u00a0country\u2019s\u00a0foreign exchange reserves.<\/span><\/p>\n

Adding to this trend, several US states are considering adding Bitcoin to their treasury reserves. Recently, Ohio became\u00a0<\/span>the latest state to do so.<\/span><\/a><\/p>\n

Furthermore, Wu Jiexhuang, a member of Hong\u00a0Kong\u2019s\u00a0Legislative Council, proposed incorporating Bitcoin into Hong\u00a0Kong\u2019s\u00a0national reserves for financial stability.<\/span><\/p>\n

In Europe,\u00a0Germany\u2019s\u00a0Free Democratic Party (FDP) has also expressed openness to adopting Bitcoin as a reserve asset. The\u00a0FDP\u2019s\u00a0platform for the 2025 elections advocates for distributed ledger technology and considers Bitcoin to enhance the resilience of\u00a0Europe\u2019s\u00a0monetary system.<\/span><\/p>\n

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The post Oklahoma Senator Proposes Bill To Allow Salaries And Payments In Bitcoin<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Republican state senator Dusty Deevers has introduced the Bitcoin Freedom Act, a bill that would allow Oklahoma employees and residents to receive salaries in Bitcoin (BTC) and enable businesses to accept BTC payments. The legislation, filed on 8 January 2025, aims to empower Oklahomans to adopt Bitcoin as a means to preserve financial stability amid […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34401","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34401"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34401"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34401\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}