Oklahoma Introduces Invoice Permitting State Workers and Distributors to Be Paid in Bitcoin

Bitcoin Journal

Oklahoma Introduces Invoice Permitting State Workers and Distributors to Be Paid in Bitcoin

Oklahoma lawmakers launched laws this week that might permit state workers, distributors, non-public companies, and residents to barter and obtain funds in bitcoin.

Senate Invoice 2064, launched by Senator Dusty Deevers throughout the 2026 legislative session, establishes a authorized framework for the usage of bitcoin as a medium of change and compensation with out designating it as authorized tender.

The invoice explicitly states that it doesn’t battle with the U.S. Structure’s prohibition on states coining cash or declaring authorized tender aside from gold and silver, as a substitute recognizing bitcoin as a monetary instrument working inside current authorized frameworks.

If enacted, the invoice would allow Oklahoma state workers to elect to obtain salaries or wages in bitcoin, both based mostly on the asset’s market worth in the beginning of a pay interval or on the time of fee. 

Workers can be allowed to revise their fee choice at first of every pay interval and will select to obtain compensation in bitcoin, U.S. {dollars}, or a mixture of each. 

Funds can be deposited both right into a self-hosted pockets managed by the worker or right into a third-party custodial account designated by the worker.

The laws would additionally permit distributors contracting with the state to choose into receiving fee in bitcoin on a per-transaction foundation. The bitcoin worth of these funds can be decided by the market value on the time of the transaction except in any other case agreed upon in writing.

Past state payroll and procurement, the invoice broadly authorizes non-public companies and people in Oklahoma to barter and obtain funds in bitcoin, reinforcing its use as a voluntary medium of change throughout the state economic system.

SB 2064 consists of provisions aimed toward decreasing regulatory friction for bitcoin-native companies. Companies that deal completely in digital property and don’t change them for U.S. {dollars} can be exempt from Oklahoma’s cash transmitter licensing necessities, in response to laws textual content. 

The invoice directs the Oklahoma State Treasurer to problem a request for proposals for a digital asset agency to course of bitcoin funds for state workers and distributors.

In choosing a supplier, the Treasurer should think about elements together with charges, transaction velocity, cybersecurity practices, custody choices, and any related state licenses. The Treasurer can be required to finalize a contract with a supplier by January 1, 2027, and is permitted to promulgate guidelines to implement this system.

Again in January 2025, Oklahoma State Senator Dusty Deevers launched an analogous initiative referred to as the Bitcoin Freedom Act (SB 325). It was a invoice designed to let workers, distributors, and companies voluntarily obtain and make funds in Bitcoin whereas making a authorized framework for its use within the state’s economic system.

Oklahoma’s bitcoin adoption echoes different U.S. states

This transfer follows different states like New Hampshire and Texas in exploring methods to combine Bitcoin into public finance. 

New Hampshire handed the nation’s first Strategic Bitcoin Reserve regulation, permitting the state to carry as much as 5% of its funds in high-market-cap digital property and even approve a bitcoin-backed municipal bond.

Texas, in the meantime, has paired laws with motion, making a Strategic Bitcoin Reserve and making the primary U.S. state Bitcoin ETF buy of round $5 million, framing it as each a hedge towards financial volatility and a step towards modernizing state funds. 

If handed, SB 2064 would take impact on November 1, 2026, positioning Oklahoma amongst a small however rising variety of U.S. states exploring direct integration of bitcoin into authorities fee methods.

The Oklahoma Tax Fee would even be required to problem steerage on the tax remedy of digital property obtained as fee by January 1, 2027, addressing an space that has typically created uncertainty for workers and employers alike.

This submit Oklahoma Introduces Invoice Permitting State Workers and Distributors to Be Paid in Bitcoin first appeared on Bitcoin Journal and is written by Micah Zimmerman.

Supply hyperlink