In a historic move, the Oklahoma has emerged as the 12th U.S. state to pass a landmark bill aimed at safeguarding the fundamental rights of Bitcoin (BTC) users. The development marks a massive achievement for the crypto community amid heightened crackdown from the Federal Government and the Securities and Exchange Commission (SEC).

Oklahoma Steps Up To Preserve Bitcoin Rights

The Bitcoin rights bill received sweeping support with an overwhelming 81-1 vote in the State House, according to a post on X by Satoshi Action Fund founder Dennis Porter. The bill has been spearheaded by Rep. Brian Hill and backed by the Oklahoma Bitcoin Association. It promises extensive protection for Bitcoin users within the state.

Among its key provisions are the absolute right to buy and sell Bitcoin and the freedom to mine BTC. In addition, it will safeguard the right to self-custody digital assets and the liberty to run a full node. These provisions set a powerful precedent for other states to follow.

Dennis Porter hailed the bill as a crucial step towards digital freedom and innovation, envisioning a future where Oklahoma leads as a sanctuary for digital currency innovation. Moreover, Porter emphasized the importance of community support as the bill progresses through the legislative process, urging individuals to recognize the broader significance of the legislation.

“Imagine a future where your #Bitcoin rights are enshrined into law,” Porter remarked, underscoring the transformative potential of the Bitcoin rights bill. The introduction of this bill represents more than just regulatory support for Bitcoin. It symbolizes a bold stand against overreach and a commitment to ensuring financial empowerment for Oklahomans and potentially all Americans.

Furthermore, Porter stated, “This legislation is our chance to make Oklahoma a beacon of digital freedom and innovation.” As the bill advances to the Senate, stakeholders are mobilizing to ensure its success. The urgency for community support has never been higher as the bill awaits passage through the Senate and ultimately the Governor’s signature.

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Louisiana, Ohio & Other States Join The Spree

Earlier this month, Louisiana joined the spree as the 11th state to propose legislation dedicated to protecting fundamental Bitcoin rights. Sponsored by Louisiana State Rep. Mark Wright, the bill emphasized multiple provisions for Bitcoin users.

The legislation ensured the freedom to “buy, sell, and trade” Bitcoin while also supporting crucial processes like mining and validation. Additionally, it emphasizes the significance of self-custody, empowering individuals to “control their digital assets.”

In the wake of increasing recognition and protection for Bitcoin users, several states have made their move to preserve BTC rights. In February 2024, Ohio, South Carolina, and Mississippi had emerged as forerunners in protecting citizens’ rights for leveraging Bitcoin. Through the introduction of bills, these states are actively reinforcing the fundamental freedoms associated with digital currency.

Also Read: Bitcoin Records $2.8 Bln Weekly Inflows As Digital Asset Inflows Scales New ATH

The post Oklahoma Becomes 12th State To Pass Bitcoin Rights Bill In US appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am