- The development signifies a significant achievement for the crypto community amidst increasing pressure from the Federal Government and the Securities and Exchange Commission (SEC).
- According to a post by Dennis Porter, the founder of Satoshi Action Fund, the Bitcoin rights bill gained broad support in the State Assembly by an overwhelming vote of 81-1.
- Earlier this month, Louisiana joined in by becoming the 11th state to introduce legislation aimed at protecting basic Bitcoin rights.
The US state of Oklahoma made history as the 12th state to adopt a bill regarding Bitcoin: What are the details of the bill?
Oklahoma Approves a Bitcoin-Related Bill
The state of Oklahoma in the U.S. has made history by becoming the 12th state to approve groundbreaking legislation aimed at protecting the fundamental rights of Bitcoin (BTC) users. This development signifies a significant achievement for the crypto community amidst increasing pressure from the Federal Government and the Securities and Exchange Commission (SEC).
The Bitcoin rights bill gained broad support in the State Assembly by an overwhelming vote of 81-1, as reported by Dennis Porter, the founder of Satoshi Action Fund. The bill, spearheaded by Rep. Brian Hill and supported by the Oklahoma Bitcoin Association, promises comprehensive protection to Bitcoin users within the state.
Among its key provisions are absolute rights to buy and sell Bitcoin, freedom to engage in BTC mining, and the preservation of the right to self-custody digital assets and run full nodes. These provisions set a strong example for other states to follow.
Dennis Porter hailed this law as a significant step for digital freedom and innovation, envisioning Oklahoma as a haven for digital currency innovation. He also emphasized the importance of community support during the legislative process, urging individuals to recognize the broader significance of the law.
“Imagine a future where your #Bitcoin rights are written into law,” Porter stated, highlighting the transformative potential of the Bitcoin rights bill. The introduction of this bill represents more than just regulatory support for Bitcoin. It symbolizes a bold stance against overreach and represents Oklahoma’s commitment to empowering financial freedom for its residents, and potentially all Americans.
Porter further stated, “This legislation gives us a chance to make Oklahoma a guide for digital freedom and innovation.” As the bill progresses to the Senate, stakeholders are mobilizing to secure its success. While awaiting passage from the Senate and ultimately the Governor’s signature, the urgency of community support has never been higher.
Louisiana, Ohio, and Other States Join In
Earlier this month, Louisiana joined in by becoming the 11th state to introduce legislation aimed at protecting basic Bitcoin rights. The bill, supported by Louisiana State Representative Mark Wright, highlights various provisions for Bitcoin users.
The legislation supports essential processes such as mining and verification while providing freedom to “buy, sell, and trade” Bitcoin. It also emphasizes the importance of self-custody, empowering individuals to “control their digital assets.”
With increasing recognition and protection for Bitcoin users, several states have taken action to safeguard BTC rights. In February 2024, Ohio, South Carolina, and Mississippi emerged as pioneers in protecting citizens’ fundamental rights related to digital currencies. These states are effectively strengthening basic freedoms associated with digital currencies through the introduction of legislation.
