Oklahoma lawmakers have introduced Senate Bill 2064, a landmark piece of legislation that would allow state employees, vendors, private businesses, and residents to receive payments in Bitcoin. Proposed by State Senator Dusty Deevers, the bill is set to take effect on November 1, 2026, if passed. It establishes a legal framework for Bitcoin to be used as a voluntary medium of exchange and compensation, while carefully noting it does not declare Bitcoin as legal tender, a power reserved by the U.S. Constitution.
The bill provides specific mechanisms for implementation. State employees would have the option to receive their salaries in Bitcoin, U.S. dollars, or a combination of both, with the choice made at the start of each pay period. The Bitcoin payment value would be based on the asset's market value at the beginning of the pay period or at the time of payment. Payments could be deposited into a self-hosted wallet or a third-party custodial account chosen by the employee.
Vendors contracting with the state would also gain the option to be paid in Bitcoin on a per-transaction basis, with the value determined by Bitcoin's price at the time of the transaction unless otherwise agreed in writing. Furthermore, the bill aims to reduce regulatory friction for crypto-native businesses by exempting firms that deal exclusively in cryptocurrency and do not engage in exchange activities from Oklahoma's money transmitter licensing requirements.
A critical component of the bill tasks the Oklahoma State Treasurer with selecting a digital asset firm to process these Bitcoin payments. The Treasurer must issue a request for proposals and finalize a contract with a provider by January 1, 2027. Selection criteria will include fees, transaction speed, state licenses, custody options, and cybersecurity practices. The Oklahoma Tax Commission is also directed to issue guidance on the tax treatment of digital asset payments starting in January 2027.
This legislative effort builds on Senator Deevers' prior proposal, the Bitcoin Freedom Act (SB 325), introduced in January 2025. It positions Oklahoma alongside states like Texas and New Hampshire, which have explored integrating Bitcoin into public finance through strategic reserves and bond initiatives. The bill's proponents suggest its successful implementation could serve as a model for other states to adopt digital financial technologies.
