In my role as a researcher, I’m highlighting an intriguing development: Senator Dusty Deevers, representing Oklahoma’s Republican party, has proposed legislation that could revolutionize our state’s financial landscape. This bill aims to empower both employees and residents by enabling the receipt of salaries in Bitcoin (BTC). Additionally, it opens up the possibility for vendors to accept Bitcoin payments. The senator underscores this move as a response to the escalating inflation, which he believes is steadily devaluing the purchasing power of our hard-working Oklahoma citizens.
Consequently, he posits that Bitcoin offers an exceptional chance for local people to safeguard their income and assets. On this very day, Wednesday, January 8th, Senator Deevers presented the Bitcoin Liberty Bill. In reference to the progression, he further commented:
In light of Bitcoin’s consistent growth and the ongoing money printing happening in Washington D.C. with the U.S. dollar, it’s crucial for Oklahoma to take action to safeguard its citizens.
In his statement, he mentioned that SB325 supports optional involvement, focusing on “free-market ideals” and granting employees, employers, and businesses the liberty to choose their preferred payment options.
The documentation outlines that one primary intention behind the Bitcoin Liberty Act is to create a safe system for using Bitcoin within the State of Oklahoma, by both state entities, private businesses, and individual citizens. Additionally, this act aims to legalize Bitcoin as a valid method for conducting transactions, paying wages, and making investments.
Senator Deevers opines that Donald Trump’s advocacy for Bitcoin during the previous Presidential election significantly integrated Bitcoin into mainstream economic systems, cementing its role as a crucial component of the global economy in the foreseeable future.
The senator noted that this bill positions Oklahoma as a “national leader” and guarantees the state will “welcome the future of digital finance, giving our residents additional financial choices”.
When Will the Bitcoin Freedom Act Kick In?
During the 60th legislative session, which begins on February 3, lawmakers will discuss the Bitcoin Freedom Act, a proposal that Senator Deevers is advocating strongly for. He’s been vocal about this, expressing concerns over escalating inflation rates in the United States.
In his message on the X platform on January 8, he wrote:
“If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US dollar.”
In his own words, he pledged that a significant part of his campaign was dedicated to advocating for the financial security of those he serves, and he vowed to mitigate the impact of inflation on them.
He additionally expressed his apprehensions regarding central bank digital currencies (CBDCs), arguing on the 9th of January that they provide a platform for excessive government intervention and monitoring. CBDCs empower central authorities to monitor, regulate, and limit individual transactions, thus potentially undermining financial autonomy and liberty, as he put it. In contrast, he highly commended Bitcoin for this matter, asserting that “Bitcoin upholds financial independence. Its decentralized, censorship-resistant structure enables individuals to maintain complete control over their funds, safeguarding them from government intervention or manipulation due to inflation.
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2025-01-09 13:30