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“`Bitcoin
- Oklahoma Governor Kevin Stitt has officially signed a groundbreaking Bitcoin rights bill into law, safeguarding the use of self-custody wallets.
- The bill, known as HB3594, prohibits the state from imposing restrictions on the use of digital assets for legal transactions and self-custody solutions.
- “The idea that ‘We the People’ cannot hold our own assets is antithetical to American values,” stated Dennis Porter, CEO of Satoshi Action Fund.
This new legislation in Oklahoma marks a significant milestone in the protection of cryptocurrency rights, particularly the self-custody of digital assets.
HB3594 A.K.A Bitcoin Rights Bill Passes In Oklahoma
The newly enacted HB3594 not only reinforces the rights of individuals to manage their digital assets without undue interference but also exempts Bitcoin transactions from additional taxes and clarifies mining regulations. This move by Oklahoma could potentially set a precedent for other states considering similar legislation.
The U.S. Cracks Down On Self-Custody Wallets
Amidst growing federal scrutiny over cryptocurrencies, particularly self-custody wallets, Oklahoma’s HB3594 comes as a strong countermeasure. Recent federal actions include the arrest of individuals associated with crypto wallets and mixers, accused of facilitating illegal activities. This state legislation asserts a protective stance over personal digital asset management rights.
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Conclusion
Oklahoma’s proactive approach in enacting HB3594 could inspire other states to adopt similar protective measures for cryptocurrency users. This law not only supports the rights of individuals to use, mine, and manage digital assets but also challenges the increasing federal crackdown on self-custody wallets.
“`
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