Oklahoma and the Bitcoin Freedom Act bill: accepting salaries and payments in BTC

Last month, in Oklahoma, Republican Senator Dusty Deevers introduced the bill SB325, called the Bitcoin Freedom Act. This is a law that would allow

Oklahoma is reviewing a bill that would allow employees and vendors to choose to be paid in Bitcoin.

The bill, called the Bitcoin Freedom Act, was introduced by Republican Senator Dusty Deevers in the 60th legislative session, which began on February 3.

The act would allow employees in Oklahoma to choose to be paid in Bitcoin, and vendors to accept payments in the cryptocurrency.

“In a period when inflation is eroding the purchasing power of workers in Oklahoma, Bitcoin offers a unique opportunity to protect earnings and investments,” Deevers said in a statement.

“As Bitcoin continues to grow and the value of the dollar continues to be printed in Washington D.C., Oklahoma must act to protect our citizens.”

The bill is designed to ensure that participation is entirely voluntary, respecting the principles of the free market.

In this way, the Bitcoin Freedom Act would allow employees, employers, and businesses to choose the payment options that best suit them, involving BTC.

Deevers also cited the President of the USA, Donald Trump, as an example of a bull stance in favor of Bitcoin (BTC), stating that BTC has entered the mainstream.

“There is a reason why President Trump campaigned very intensely as a candidate in favor of Bitcoin and spoke at major Bitcoin events. Bitcoin has entered the mainstream of our economy and is undeniably a seven figure part of the financial future. This law places Oklahoma in a leadership role at the national level, ensuring that our State embraces the future of financial technology and providing our citizens with more financial options.”

Powell of the Fed and his statements on crypto and Bitcoin

Recently, even Jerome Powell, Chairman of the Federal Reserve (Fed) of the USA, commented on the crypto sector.

Powell stated that the US banks are perfectly capable of serving crypto clients, provided they understand and know how to manage the risks.

This means that US banks should be allowed to satisfy cryptocurrency customers, also wanting to experiment with new services. For Powell, this modus operandi should no longer categorize the crypto sector as off-limits for US banks.

Last December, then, Powell had stated that in the financial markets Bitcoin is like gold, and not like the dollar.

Here, the President of the Fed means that people do not use BTC as a means of payment, but as a speculative asset. For Powell, BTC would be like gold, only it is currency and digital.