Oklahoma Recognizes Bitcoin (BTC) Self-Custody as a Legal Right: A Major Boost for Crypto Freedom

  • Oklahoma has become the first U.S. state to pass a law protecting the right to self-custody Bitcoin.
  • The new law, HB3594, allows citizens to hold and control digital assets using a hardware wallet and prevents the state government from banning or restricting the use of crypto to purchase legal goods and services.
  • The Satoshi Action Fund, which created the template for the bill, predicts more states will follow suit.

Oklahoma passes a groundbreaking law, HB3594, protecting the right to self-custody Bitcoin, setting a precedent for other states to follow.

Oklahoma Pioneers Bitcoin Rights

Oklahoma has made a landmark move by becoming the first U.S. state to pass a law protecting the right to self-custody Bitcoin. The new law, HB3594, signed into law by Republican governor Kevin Stitt, stipulates that citizens cannot be prevented from holding and controlling digital assets using a hardware wallet. Furthermore, it states that the state government cannot ban or restrict the use of crypto to purchase legal goods and services.

Implications for Crypto Mining

The bill also addresses digital asset mining, permitting ordinary citizens to participate in the industry within certain boundaries. The law reads, “It shall be legal in the State of Oklahoma to participate in home digital asset mining as long as the person engaging in home digital asset mining complies with all local noise ordinances.” Crypto mining, an energy-intensive industry that uses large amounts of hardware, space, and resources, involves minting new coins and keeping digital coin networks running.

Political Landscape of Crypto

With crypto becoming an increasingly hot political topic, the partisan lines are becoming more evident. Democrats typically focus on the potential threats of the technology, while Republicans oppose regulations that they say stifle innovation in a globally competitive marketplace. Dennis Porter, CEO and co-founder of the Satoshi Action Fund, believes similar laws are inevitably coming to other states and that it isn’t a “left versus right” issue.

Conclusion

The passing of HB3594 in Oklahoma sets a significant precedent for the future of Bitcoin and crypto rights in the United States. As the first state to legally protect the right to self-custody Bitcoin, Oklahoma may pave the way for more states to follow suit. The political landscape surrounding crypto continues to evolve, and it will be interesting to observe how other states respond to this development.

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Merritt Vale
Merritt Valehttps://en.coinotag.com/
Merritt Vale is a 24-year-old woman who has a strong affinity for the Dogecoin community and has a particular love for the altcoin Shiba. With a passion for understanding the latest trends and developments in the cryptocurrency industry, Merritt provides fresh perspectives and valuable insights to her readers.
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