Oklahoma legislators have introduced legislation that will allow residents, state employees and vendors to accept bitcoin payments and make transactions.
Senate Bill 20, introduced by Dusty Deevers at the 2026 session of the legislature, creates a legal frame work for bitcoin use as a payment method. medium of exchange Compensation without designating the currency as legal tender.
It is stated that this bill does not violate the U.S. Constitution, which prohibits any state from minting currency or declaring it legal tender except for gold and silver. The bill instead recognizes Bitcoin as a legal financial instrument within existing frameworks.
When enacted into law, bill Oklahoma employees could elect to be paid in bitcoins based on their asset’s value either at the beginning or end of pay periods.
At the beginning of every pay period, employees could change their preference for payment. They can choose between receiving compensation in U.S. dollar, Bitcoin, or a mixture of both.
The employee can choose to deposit payments into either a wallet that is hosted by themselves or a custodial third party account.
Vendors who contract with the government would be able to choose whether they want payment made in bitcoin on an individual transaction basis. The value of bitcoins for these payments will depend on the current market rate at the moment of transaction, unless agreed otherwise in writing.
The bill allows private companies and individuals to receive and negotiate payments using bitcoins, extending its voluntary use across Oklahoma’s economy.
SB 2064 contains provisions aimed to reduce regulatory frictions for businesses that are bitcoin native. According to the legislation, firms that only deal in digital assets without exchanging them for U.S. Dollars would not be required to obtain a money transmitter license from Oklahoma.
The bill instructs the Oklahoma State Treasurer that a request is issued for proposals to find a firm capable of processing bitcoin payments to state vendors and employees.
The Treasurer will consider a number of factors when selecting a provider. These include fees, speed and security, as well as custody options. The Treasurer will be required to sign a contract by the end of 2027 with a chosen provider, and has authority to establish rules that implement the program.
Dusty Deevers is set to return in Oklahoma State Senate as Senator Dusty Deevers on the first day of January 2025. introduced A similar initiative is the Bitcoin Freedom Act. The bill was designed to allow employees, businesses, and vendors to receive and pay in Bitcoins voluntarily while creating legal frameworks for their use.
Oklahoma adopts Bitcoin at the same rate as other U.S. States
Other states, such as New Hampshire and Texas, are exploring how to incorporate Bitcoin into the public financing system.
New Hampshire passed This is the first Strategic Bitcoin Reserve Act in the country, and it allows for the holding of up to 5 percent of the funds by the government to high-capitalization digital assets. It also approves a municipal bond backed with bitcoin.
Texas, on the other hand, has coupled legislation with action. creating It is also a move to modernize the finances of states.
SB 2064 will take effect in Oklahoma on November 1, 2026 if it is passed. Oklahoma would then join a select group of U.S. state that have begun exploring the integration of bitcoin directly into their government’s payment system.
Oklahoma Tax Commission will also have to provide guidance by the end of 2027 on how digital assets are taxed. This is an area which has created confusion for both employees and employers.
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Source: bitcoinmagazine.com
