Oklahoma Senator Proposes Bill to Allow BTC Payments
A new bill, introduced by Oklahoma State Senator Dusty Deevers, is proposing the use of Bitcoin as a form of payment for employees and businesses in the state.
The bill, known as the Bitcoin Freedom Act or SB325, aims to establish a legal framework for the use of Bitcoin in various transactions such as salaries and investments, while ensuring compliance with all relevant laws. According to the proposed bill, any employee, business, corporation or resident of Oklahoma can negotiate and receive payment in Bitcoin.
This includes salaries, wages, and other types of compensation. The bill also requires state employees to enter into an agreement to determine the value of Bitcoin at the beginning of the pay period or at the time of payment.
Employees have the option to receive their compensation in Bitcoin, US dollars, or a combination of both, with the freedom to change their preference at the beginning of each pay period.
Senator Deevers explains that this legislation is crucial in protecting Oklahomans from the effects of inflation. He believes that Bitcoin presents a unique opportunity for individuals to safeguard their earnings and investments in a time when inflation is diminishing their purchasing power.
