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Oklahoma Moves Closer to Allowing Bitcoin Salary Payments and State Res

Senate Bill 325 (SB 325), a new legislative proposal in Oklahoma, has moved to the committee stage. This advancement brings the state one step closer to a significant milestone—allowing employees to receive their wages in Bitcoin. Introduced by Senator Dusty Deevers, the bill is aimed at providing both government employees and all Oklahoma residents with the option to accept salary payments in the digital currency.

SB 325 is a manifestation of a broader trend across U.S. states that are exploring the integration of Bitcoin into public financial systems. This proposal comes hot on the heels of another crypto-related measure, House Bill 1203, introduced in the Oklahoma House of Representatives on January 15. This separate legislation, aptly named the Strategic Bitcoin Reserve Act, was spearheaded by Representative Cody Maynard. The bill aims to enable state pension funds and savings accounts to allocate a portion of their holdings to Bitcoin, serving as a hedge against inflation.

Maynard has been vocal about the advantages of Bitcoin as an independent monetary system, free from government control. He has consistently argued that traditional fiat currency is subject to loss of purchasing power due to excessive money printing. Bitcoin, on the other hand, serves as a bulwark against inflationary policies.

The trend of integrating Bitcoin into financial reserves is not unique to Oklahoma. Several states have introduced similar proposals. In November 2024, Pennsylvania lawmakers tabled a bill that would allow the state Treasury to invest up to 10% of its assets in Bitcoin. Representative Mike Cabell, a staunch supporter of the initiative, has highlighted the moves of institutional asset managers such as BlackRock and Fidelity, which have added Bitcoin to their portfolios to hedge against macroeconomic risks.

Texas has also joined the Bitcoin bandwagon at the state level. On December 12, state legislator Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act. The proposal recommends that the Texas comptroller of public accounts hold Bitcoin as a reserve asset for a minimum of five years.

With SB 325 under committee review, Oklahoma joins an expanding list of states considering Bitcoin adoption for salaries, pensions, and treasury reserves. This move signifies a significant shift in how states view digital currencies, acknowledging their potential to serve as an alternative monetary system and a hedge against inflation. As the world continues to grapple with economic uncertainties, it will be interesting to see how digital currencies like Bitcoin reshape our financial landscape.