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 888 By: Seifried
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6 AS INTRODUCED
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7 An Act relating to digital assets; amending Section
7 2, Chapter 296, O.S.L. 2024 (75A O.S. Supp. 2024,
8 Section 100), which relates to definitions; updating
8 statutory reference; defining terms; and providing an
9 effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY Section 2, Chapter 296, O.S.L.
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14 2024 (75A O.S. Supp. 2024, Section 100), is amended to read as
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15 follows:
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16 Section 100. As used in this act section:
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17 1. "Blockchain" means data that is shared across a network to
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18 create a ledger of verified transactions or information among
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19 network participants linked using cryptography to maintain the
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20 integrity of the ledger and to execute other functions and
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21 distributed among network participants in an automated fashion to
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22 concurrently update network participants on the state of the ledger
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23 and any other functions;
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1 2. "Blockchain protocol" means any executable software deployed
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2 to a blockchain composed of source code that is publicly available
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3 and accessible, including a smart contract or any network of smart
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4 contracts;
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5 3. "Digital asset" means virtual currency, cryptocurrencies,
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6 natively electronic assets, including stablecoins and non-fungible
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7 tokens, and other digital-only assets that confer economic,
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8 proprietary, or access rights or powers;
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9 4. "Digital asset mining" means using electricity to power a
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10 computer or node for the purpose of securing a blockchain network;
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11 5. "Digital asset mining business" means a group of computers
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12 working that consume more than one (1) megawatt of energy for the
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13 purpose of securing a blockchain protocol;
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14 6. "Discriminatory rates" means electricity rates substantially
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15 higher from other industrial uses of electricity in similar
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16 geographic areas;
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17 7. "Exchange-traded product" means any financial instrument
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18 that is approved by the United States Securities and Exchange
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19 Commission, the United States Commodity Futures Trading Commission,
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20 or the Oklahoma Department of Securities and is traded on a U.S.-
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21 regulated exchange and derives its value from an underlying pool of
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22 assets, including stocks, bonds, commodities, or indexes;
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23 8. "Home digital asset mining" means using digital asset mining
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24 in an area zoned for residential use;
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1 8. 9. "Node" means a computational device which contains and
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2 updates a copy of a blockchain;
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3 9. 10. "Precious metal" means the following, whether in coin,
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4 bullion, or other form:
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5 a. silver,
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6 b. gold, or
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7 c. platinum;
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8 11. "Private key" means a unique element of cryptographic data
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9 used for signing transactions on a blockchain and known to the owner
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10 of the unique element;
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11 12. "Secure custody solution" means a technological product or
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12 blended product and service which has the following characteristics:
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13 a. the cryptographic private keys that secure digital
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14 assets are exclusively known by and accessible to a
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15 government entity,
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16 b. the cryptographic private keys that secure digital
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17 assets are exclusively contained within an encrypted
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18 environment and accessible only via end-to-end
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19 encrypted channels,
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20 c. the cryptographic private keys that secure digital
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21 assets are not contained by, accessible by, or
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22 controllable through the use of a smartphone,
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23 d. any hardware that contains the cryptographic private
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24 keys that secure digital assets is maintained in at
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1 least two geographically diversified and specially
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2 designated secure data centers,
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3 e. the enforcement of a multi-party governance structure
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4 for authorizing transactions, enforcing user access
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5 controls, and logging all user-initiated actions,
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6 f. the provider of the secure custody solution has
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7 implemented a disaster recovery protocol to ensure
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8 customer access to assets in the event the provider is
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9 unavailable, and
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10 g. the performance of regular code audits and penetration
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11 testing from audit firms, and prompt remediation of
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12 identified vulnerabilities;
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13 13. "Self-hosted wallet" means a digital interface used to
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14 secure and transfer digital assets and under which the owner of the
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15 digital asset retains independent control over the digital assets
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16 that are secured by such digital interface;
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17 14. "Stablecoin" means a digital asset that is issued by a
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18 corporation and is backed by United States dollars or high-quality
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19 liquid assets and is redeemable on demand by the holder at par for a
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20 fixed monetary value in equivalent United States dollars;
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21 10. 15. "Hardware wallet" means a physical device that is not
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22 continuously connected to the Internet and allows an individual to
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23 secure and transfer digital assets and under which the owner of the
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24 digital assets retains independent control over the digital assets;
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1 11. 16. "Staking" means the act of committing digital assets
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2 for a period of time to validate and secure a specific blockchain
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3 protocol; and
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4 12. 17. "Staking as a service" means the provision of technical
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5 staking services, including the operation of nodes and the
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6 associated infrastructure, necessary to facilitate participation in
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7 blockchain protocols' consensus mechanisms; and
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8 18. "Qualified custodian" means any federal or state-chartered
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9 bank, trust company, or special purpose depository institution or a
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10 company regulated by the state which provides storage for digital
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11 assets for an approved exchange-traded product.
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12 SECTION 2. This act shall become effective November 1, 2025.
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14 60-1-983 CN 1/19/2025 5:45:18 AM
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Req. No. 983 Page 5Every fact on this page links to its source, starting with the official bill record.