Senator Dusty Deevers from Oklahoma has proposed a bill that gives employees and locals in the state the option to be paid or receive their salary in Bitcoin, and also allows merchants to accept Bitcoin as a form of payment.
When inflation is reducing the buying capability of people in Oklahoma, Bitcoin presents an unusual chance for safeguarding income and assets,” Deevers stated following the proposal of the Bitcoin Freedom Act on January 8th.
In light of Bitcoin’s escalating value and the ongoing money printing in Washington D.C. that devalues the dollar, it’s crucial for Oklahoma to take action to safeguard its citizens.
SB325, the proposed legislation, guarantees a completely optional involvement in its provisions. It upholds the essence of free-market ideals by allowing both employees and employers, as well as businesses, to decide on their preferred payment methods, according to his remarks.
The document states that one aim of this law is to set up a safe system for the use of Bitcoin by Oklahoma’s state government, private companies, and citizens. It also gives permission for Bitcoin to be used in various transactions such as payments, wages, and investments.
Senator Deevers commended President-elect Trump’s advocacy for Bitcoin, stating, “Bitcoin has now become an integral aspect of our economic landscape, undoubtedly playing a crucial role in shaping our financial future.
The law positions Oklahoma as a “national leader” by allowing it to adopt cutting-edge financial technology, thereby expanding financial choices for its residents, according to him.
In the upcoming 60th legislative session, starting February 3, the Bitcoin Freedom Act is proposed for discussion.
Senator Deevers expresses his frustration with the rising inflation rates in the U.S., stating, “If there’s a chance for Washington D.C. to mess something up, they probably will. And right now, they’re certainly damaging the value of the U.S. dollar.” He made this comment on X on January 8.
“One of my biggest campaign promises was to fight for the financial well-being of those I represent and do what I could to offset the damage caused by inflation.”
Deevers, who serves as a pastor as well, voiced concerns against Central Bank Digital Currencies (CBDCs), arguing on January 9th that they provide governments with the ability to monitor, regulate, and limit individual financial transactions. This, he contended, infringes upon financial privacy and liberty. Instead, he praised Bitcoin for its potential in this context, suggesting it may offer greater freedom from such surveillance.
“Bitcoin promotes financial sovereignty. Its decentralized, censorship-resistant design allows individuals to retain full control over their money, free from government interference or inflationary manipulation.”
The inflation rate in the United States has been on an upward trend since September 2024, standing at 2.7%. As per Trading Economics, it peaked above 9% for nearly a decade in the middle of 2022 during the pandemic and lockdown period.
By November 2024, Oklahoma Governor Kevin Stitt signed legislation establishing a regulatory structure for blockchain companies and protecting cryptocurrency mining operations. This law, enacted in May, simplifies the process for Bitcoin miners to conduct business within the state.
Read More
- HBAR PREDICTION. HBAR cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JTO PREDICTION. JTO cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- Dandadan Shares First Look at Season Finale: Watch
2025-01-09 06:39