Last updated:
Journalist
Hassan Shittu
Journalist
Hassan Shittu
Share
Why Trust Cryptonews
Oklahoma has taken a step toward Bitcoin adoption with the approval of the “Strategic Bitcoin Reserve Act” (HB 1203) by the House Committee.
With a decisive vote of 12 in favor and only 2 against, the bill now moves to a full legislative vote.
If enacted, the bill would allow up to 10% of the state’s public funds to be invested in Bitcoin or other digital assets with a market capitalization exceeding $500 billion.
Oklahoma’s Push for Bitcoin Adoption
The movement toward Bitcoin integration in Oklahoma began on January 9, 2025, when State Senator Dusty Deevers introduced the Bitcoin Freedom Act (SB325).
This bill aims to incorporate Bitcoin into the state’s economy by allowing employees and vendors to conduct transactions in Bitcoin.
Since then, Deevers has positioned Bitcoin as an alternative to the inflation-weakened U.S. dollar, stating that Bitcoin could help safeguard Oklahomans’ earnings and investments.
“The initiative could make Oklahoma a national leader in adopting financial technology, mitigating inflation’s impact,” Deevers stated.
The proposed legislation would facilitate Bitcoin transactions across state agencies, private businesses, and individual dealings, ensuring compliance with financial regulations.
Deevers also highlighted Bitcoin’s decentralized nature as a safeguard against reckless federal spending, comparing it to President Donald Trump’s pro-Bitcoin stance.
Oklahoma previously demonstrated its commitment to cryptocurrency by passing the Bitcoin Rights Bill (HB3594) in May 2024.
This legislation protected residents’ rights to self-custody Bitcoin and use it for transactions.
The Begining Of Bitcoin Adoption in Oklahoma
The Bitcoin Rights Bill law prevents the state government from banning or restricting the use of digital assets for legal transactions and ensures residents can self-custody their assets.
The bill also prohibits additional taxes on Bitcoin transactions and clarifies that individuals mining Bitcoin are not required to obtain a money transmitter license.
The policy, drafted by the non-profit Satoshi Action Fund, aims to strengthen Oklahoma’s position as a pro-Bitcoin state.
Dennis Porter, CEO of Satoshi Action Fund, emphasized the importance of the bill, stating,
“The idea that ‘We the People’ cannot hold our own assets is antithetical to American values. This law ensures that everyone can secure not only their Bitcoin but all their assets.”
Notably, Oklahoma is not the only US state progressing in its endeavor to recognize Bitcoin as a valuable asset and even add it to the government reserve.
U.S. States Consider Bitcoin Reserves
Oklahoma is not alone in exploring Bitcoin adoption. Other U.S. states, including Ohio, Texas, and Pennsylvania, have introduced similar bills to establish Bitcoin reserves.
In Ohio, House Republican leader Derek Merrin was the first to propose a bill to add Bitcoin to the state’s treasury reserves in December 2024.
Fast forward to this year, Ohio introduced a second Senate Bill 57 (SB 57) by State Senator Sandra O’Brien, seeking to establish an “Ohio Bitcoin Reserve Fund.”
The bill would allow the state treasurer to invest public funds exclusively in Bitcoin, with a mandatory five-year holding period for any BTC acquired.
Additionally, SB 57 proposes that state agencies accept cryptocurrency for tax payments, fines, and fees, converting received crypto into Bitcoin for the reserve.
Moreover, yesterday, Feb 25, another bill was introduced to ban taxes on digital asset payments.
Texas is also one of the states that recently refilled the Bitcoin reserve bill and even expanded its scope to include other cryptos.
Likewise, Pennsylvania Representative Mike Cabell has also proposed a bill to allocate up to 10% of the state’s treasury balance sheet in Bitcoin, citing the asset’s potential as a hedge against economic uncertainty.
Despite growing state and corporate interest in Bitcoin reserves, the U.S. federal government is also expected to follow suit. However, discussions surrounding this are still ongoing, and President Donald Trump has not yet issued a clear green flag.
