Oklahoma Passes Laws To Protect Rights Of Bitcoin Users

Oklahoma’s Bitcoin rights bill is a landmark legislation aimed at protecting the rights of Bitcoin users within the state. The bill received overwhelming approval in the Oklahoma State House with an 81-1 vote and includes provisions that protect the right to:

  1. Self-custody of digital assets: Oklahoma residents are now explicitly allowed to hold their own private keys, giving them full control over their digital assets without the need for intermediaries.
  2. Spend and mine Bitcoin: The bill ensures that Oklahoma residents have the right to use Bitcoin for transactions and to engage in mining activities, which is the process of verifying transactions on the Bitcoin network in exchange for newly minted Bitcoins.

This legislation is significant because it provides a clear legal framework for Bitcoin users in Oklahoma, offering them protection and clarity on their rights regarding digital assets. Oklahoma is the 12th state in the United States to undertake such a legislative initiative.