Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 325 By: Deevers
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6 AS INTRODUCED
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7 An Act relating to Bitcoin; stating intent; defining
7 terms; exempting certain firms from certain licensing
8 requirements; authorizing state employees, private
8 businesses, and individuals to negotiate and receive
9 payments in Bitcoin; authorizing certain employees
9 and vendors to elect to receive compensation in
10 Bitcoin; prescribing requirements; prescribing value;
10 providing for deposit of funds; requiring the State
11 Treasurer to create certain request for proposal;
11 stipulating consideration; requiring the Treasurer to
12 enter certain contract by certain date; authorizing
12 the Treasurer to promulgate rules; requiring the
13 Oklahoma Tax Commission to issue certain guidance;
13 providing for noncodification; providing for
14 codification; and providing an effective date.
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17 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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18 SECTION 1. NEW LAW A new section of law not to be
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19 codified in the Oklahoma Statutes reads as follows:
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20 The Legislature hereby finds that:
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21 1. Section 10 of Article I of the United States Constitution
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22 limits states from coining money or making anything but gold and
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23 silver coin legal tender in payment of debts. This act does not
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24 establish Bitcoin as legal tender but recognizes its use as a
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1 financial instrument and medium of exchange within existing legal
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2 frameworks;
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3 2. The Tenth Amendment to the United States Constitution
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4 reserves to the states powers not delegated to the federal
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5 government. Oklahoma has the authority to regulate its financial
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6 operations, investments, and partnerships, including Bitcoin
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7 transactions, within the bounds of federal law;
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8 4. Section 36 of Article II of the Oklahoma Constitution
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9 provides the state with the power to legislate for the general
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10 welfare. This act supports the general welfare by fostering
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11 innovation, increasing fiscal transparency, and encouraging economic
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12 growth through the integration of Bitcoin; and
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13 5. The purpose of this act is to:
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14 a. establish a framework for the secure use of Bitcoin by
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15 the State of Oklahoma, private businesses, and
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16 individual residents,
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17 b. authorize Bitcoin as an acceptable medium for
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18 transactions, salaries, and investments, and
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19 c. ensure compliance with all state and federal legal
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20 requirements.
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21 SECTION 2. NEW LAW A new section of law to be codified
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22 in the Oklahoma Statutes as Section 100a of Title 75A, unless there
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23 is created a duplication in numbering, reads as follows:
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1 A. "Bitcoin" means a specific decentralized digital asset not
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2 issued by any central authority, limited to twenty-one million
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3 (21,000,000) units, based on open-source software that uses peer-to-
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4 peer technology to be sent without intermediaries on the blockchain
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5 protocol, secured by digital asset mining and verified by a network
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6 of nodes.
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7 B. "Digital asset" means virtual currency, cryptocurrencies,
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8 natively electronic assets, including stablecoins and non-fungible
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9 tokens (NFTs), and other digital-only assets that confer economic,
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10 proprietary, or access rights or powers.
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11 C. "Self-hosted wallet" means a digital interface that is used
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12 to do both of the following:
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13 1. Secure and transfer digital assets; and
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14 2. Retain independent control over the secured digital assets
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15 by the owner of the digital asset.
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16 D. "Governing authority" means any board, commission,
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17 department, or other agency of the state or any political
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18 subdivision in this state.
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19 SECTION 3. NEW LAW A new section of law to be codified
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20 in the Oklahoma Statutes as Section 105 of Title 75A, unless there
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21 is created a duplication in numbering, reads as follows:
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22 Notwithstanding any other provision of law, any firm that deals
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23 with digital assets and does not accept United States currency
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24 payments or exchanges digital assets for United States currency
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1 shall not be required to obtain a state money transmitters license
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2 under Section 1513 of Title 6 of the Oklahoma Statutes.
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3 SECTION 4. NEW LAW A new section of law to be codified
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4 in the Oklahoma Statutes as Section 73.2 of Title 62, unless there
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5 is created a duplication in numbering, reads as follows:
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6 A. Any employee of this state, business, corporation, other
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7 entity, and resident of this state may negotiate and receive payment
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8 and compensation, including salaries, wages, and other forms of
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9 compensation, in Bitcoin.
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10 B. At the creation of a purchase order, any vendor may elect to
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11 receive payment in the form of Bitcoin pursuant to the provisions of
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12 subsection A of this section. Such election shall be binding for
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13 the specific purchase order or transaction. Payments shall be
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14 valued based on the market value of Bitcoin at the time of the
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15 transaction unless otherwise agreed upon in writing which may be
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16 kept solely as an electronic record.
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17 C. Any employee of this state electing to receive payment in
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18 Bitcoin pursuant to this section shall:
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19 1. Come to an agreement with this state whether the payment of
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20 compensation in Bitcoin will be:
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21 a. based on the market value of Bitcoin at the beginning
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22 of the pay period, or
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23 b. based on the market value of Bitcoin at the time of
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24 payment;
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1 2. Document in writing agreements made pursuant to paragraph 1
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2 of this subsection, which may be kept electronically, and maintained
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3 by this state for that pay period;
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4 3. Be granted the option at the start of each pay period to
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5 revise his or her election to receive payment in Bitcoin or U.S.
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6 dollars or some combination thereof. If no adjustment is made, the
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7 agreement from the previous pay period will hold; and
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8 4. Deposit payments in the self-hosted wallet of the employee
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9 or to an account designed by the employee, but controlled by a
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10 third-party, which can safely hold Bitcoin.
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11 D. The State Treasurer shall put out a request for proposal for
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12 a firm dealing with digital assets to implement the provisions of
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13 this act for paying state employees and vendors with Bitcoin. The
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14 Treasurer shall consider the following factors when determining a
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15 firm to implement the processing of Bitcoin payments pursuant to the
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16 provisions of this act:
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17 1. The fees associated with paying state employees and vendors
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18 in Bitcoin;
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19 2. The speed of paying state employees and vendors in Bitcoin;
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20 3. The cybersecurity protocols of the firm applying;
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21 4. The ability of the firm to provide custody solutions to
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22 employees and vendors;
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23 5. Any license the firm may hold with this state; and
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24 6. Any other factors the Treasurer deems relevant.
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1 E. The Treasurer shall enter into a contract with a firm
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2 pursuant to the provisions of subsection D of this section no later
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3 than January 1, 2026.
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4 F. The State Treasurer may promulgate rules to effectuate the
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5 provisions of this act.
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6 G. The Oklahoma Tax Commission shall issue guidance on the tax
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7 implications of receiving digital assets as payment no later than
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8 January 1, 2026.
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9 SECTION 5. This act shall become effective November 1, 2025.
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11 60-1-1457 QD 12/31/2024 12:23:50 PM
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Req. No. 1457 Page 6Every fact on this page links to its source, starting with the official bill record.