Oklahoma is becoming a new center for cryptocurrency, with new crypto mining operations going in across the state (including two in Muskogee County). Combined with President Trump's crypto-friendly agenda, new legislation has been filed in the Oklahoma Legislature aimed at increasing Bitcoin's usability. State Rep. Cody Maynard has a bill to allow state government usage in savings and pension funds, and State Sen. Dusty Deevers filed a bill to allow state employees and vendors to receive or accept Bitcoin payments. Read below for the details:
Maynard Introduces Strategic Bitcoin Reserve Act to Protect and Grow Oklahoma’s Financial Future
OKLAHOMA CITY (Jan. 15th) – Rep. Cody Maynard, R-Durant, announced today the introduction of the Strategic Bitcoin Reserve Act, a groundbreaking initiative to position Oklahoma as a national leader in embracing sound money principles and cutting-edge fiscal policy.
Aligned with President Trump’s vision for digital assets and financial stability, House Bill 1203 would allow Oklahoma’s state savings accounts and pension funds to invest in digital assets like Bitcoin. Maynard said the investments would be managed prudently to meet the needs of fund managers, generate reliable returns for citizens, and safeguard purchasing power against inflationary pressures.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
The Strategic Bitcoin Reserve Act would ensure Oklahoma is prepared for a future where digital assets play a pivotal role in the global economy, Maynard said. By allowing state funds to responsibly invest in Bitcoin, the legislation would provide a hedge against inflation and reinforce Oklahoma’s commitment to fiscal responsibility and forward-thinking governance.
“This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.”
The Strategic Bitcoin Reserve Act underscores Maynard’s belief in leveraging technology to empower individuals and governments alike. With Bitcoin’s finite supply and decentralized nature, he said it represents a unique opportunity to strengthen Oklahoma’s financial foundation and ensure sustainable growth for generations to come.
HB1203 will be eligible for consideration in the upcoming legislative session, which starts Feb. 3. If enacted, it would become effective Nov. 1.
Cody Maynard serves District 21 in the Oklahoma House of Representatives. His district includes parts of Bryan and Marshall counties.
Deevers introduces Bitcoin Freedom Act to Bring Oklahoma’s Economy into the Future
OKLAHOMA CITY (Jan. 8th) — Sen. Dusty Deevers, R-Elgin, has filed SB325, the Bitcoin Freedom Act, a bill that would allow Oklahoma employees to opt to receive payment in Bitcoin and enable vendors to accept Bitcoin payments.
“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” Deevers said. “As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people.”
Bitcoin, a decentralized crypto currency with a fixed supply, is increasingly seen as a hedge against inflation. Unlike traditional currencies, which can be devalued by monetary policies as we have seen with the U.S. dollar in recent years, Bitcoin offers a promising alternative for preserving wealth. SB325 ensures that participation is entirely voluntary, respecting free-market principles and empowering employees, employers, and businesses to choose the payment options that work best for them.
“There is a reason President Trump campaigned heavily as a pro-Bitcoin candidate and spoke at prominent Bitcoin events. Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future,” Deevers said. “This legislation puts Oklahoma in a leadership role nationally, ensuring our state embraces the future of financial technology while providing our citizens with more financial options.”
SB325 is eligible for consideration in the 60th legislative session beginning on February 3.
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