Oklahoma lawmakers launched laws this week that may permit state workers, distributors, non-public companies, and residents to barter and obtain funds in bitcoin.
Senate Invoice 2064, launched by Senator Dusty Deevers through the 2026 legislative session, establishes a authorized framework for the usage of bitcoin as a medium of trade 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 present 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 at the beginning of a pay interval or on the time of cost.Â
Staff could be allowed to revise their cost choice originally of every pay interval and will select to obtain compensation in bitcoin, U.S. {dollars}, or a mix of each.Â
Funds could 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 decide into receiving cost in bitcoin on a per-transaction foundation. The bitcoin worth of these funds could be decided by the market value on the time of the transaction until 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 trade throughout the state financial system.
SB 2064 contains provisions geared toward decreasing regulatory friction for bitcoin-native companies. Corporations that deal solely in digital belongings and don’t trade them for U.S. {dollars} could be exempt from Oklahoma’s cash transmitter licensing necessities, in response to laws textual content.Â
The invoice directs the Oklahoma State Treasurer to difficulty 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 pace, cybersecurity practices, custody choices, and any related state licenses. The Treasurer could 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 known 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 financial 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.Â
New Hampshire handed the nation’s first Strategic Bitcoin Reserve legislation, permitting the state to carry as much as 5% of its funds in high-market-cap digital belongings and even approve a bitcoin-backed municipal bond.
Texas, in the meantime, has paired laws with motion, creating a Strategic Bitcoin Reserve and making the primary U.S. state Bitcoin ETF buy of round $5 million, framing it as each a hedge in opposition to financial volatility and a step towards modernizing state funds.Â
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 cost methods.
The Oklahoma Tax Fee would even be required to difficulty steering on the tax therapy of digital belongings obtained as cost by January 1, 2027, addressing an space that has typically created uncertainty for workers and employers alike.
