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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 2064 By: Deevers
AS INTRODUCED
An Act relating to Bitcoin; stating legislative
intent; stating purpose of act; defining terms;
exempting certain firms from certain licensing
requirements; authorizing state employees, private
businesses, and individuals to negotiate and receive
payments in Bitcoin; authorizing certain employees
and vendors to elect to receive compensation in
Bitcoin; prescribing requirements; prescribing value;
providing for deposit of funds; requiring the State
Treasurer to create certain request for proposal;
stipulating consideration; requiring the State
Treasurer to enter certain contract by certain date;
authorizing the State Treasurer to promulgate rules;
requiring the Oklahoma Tax Commission to issue
certain guidance; providing for noncodification;
providing for codification; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law not to be
codified in the Oklahoma Statutes reads as follows:
The Legislature hereby finds that:
1. Section 10 of Article I of the United States Constitution
limits states from coining money or making anything but gold and
silver coin legal tender in payment of debts. This act does not
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establish Bitcoin as legal tender but recognizes its use as a
financial instrument and medium of exchange within existing legal
frameworks;
2. The Tenth Amendment to the United States Constitution
reserves to the states powers not delegated to the federal
government. Oklahoma has the authority to regulate its financial
operations, investments, and partnerships, including Bitcoin
transactions, within the bounds of federal law;
3. Section 36 of Article II of the Oklahoma Constitution
provides the state with the power to legislate for the general
welfare. This act supports the general welfare by fostering
innovation, increasing fiscal transparency, and encouraging economic
growth through the integration of Bitcoin; and
4. The purpose of this act is to:
a. establish a framework for the secure use of Bitcoin by
the State of Oklahoma, private businesses, and
individual residents,
b. authorize Bitcoin as an acceptable medium for
transactions, salaries, and investments, and
c. ensure compliance with all state and federal legal
requirements.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 100a of Title 75A, unless there
is created a duplication in numbering, reads as follows:
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As used in this act:
1. “Bitcoin” means the decentralized digital asset and peer-to-
peer payment network first launched in 2009 pursuant to Satoshi
Nakamoto’s white paper titled “Bitcoin: A Peer-to-Peer Electronic
Cash System” whose distributed ledger is traceable to the Bitcoin
Genesis Block, is maintained through a proof-of-work consensus
mechanism, and whose native unit of account is commonly denominated
as BTC;
2. “Digital assets” means a natively electronic representation
of value, ownership, or access rights that is recorded or
transferable on a distributed or cryptographically secured ledger,
including virtual currencies, cryptocurrencies, stablecoins, and
non-fungible tokens whether or not denominated in legal tender;
3. “Self-hosted wallet” means a software, hardware, or
cryptographic keys necessary to access and transfer such digital
assets, without reliance on a third-party custodian; and
4. “Governing authority” means any board, commission,
department, or other agency of the state or any political
subdivision in this state.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 105 of Title 75A, unless there
is created a duplication in numbering, reads as follows:
Notwithstanding any other provision of law, any firm that deals
with digital assets and does not accept United States currency
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payments or exchanges digital assets for United States currency
shall not be required to obtain a state money transmitter license
under Section 1513 of Title 6 of the Oklahoma Statutes.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 73.2 of Title 62, unless there
is created a duplication in numbering, reads as follows:
A. Any employee of this state, business, corporation, other
entity, and resident of this state may negotiate and receive payment
and compensation, including salaries, wages, and other forms of
compensation, in Bitcoin.
B. At the creation of a purchase order, any vendor may elect to
receive payment in the form of Bitcoin pursuant to the provisions of
subsection A of this section. Such election shall be binding for
the specific purchase order or transaction. Payments shall be
valued based on the market value of Bitcoin at the time of the
transaction unless otherwise agreed upon in writing which may be
kept solely as an electronic record.
C. Any employee of this state electing to receive payment in
Bitcoin pursuant to this section shall:
1. Come to an agreement with this state whether the payment of
compensation in Bitcoin will be:
a. based on the market value of Bitcoin at the beginning
of the pay period, or
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b. based on the market value of Bitcoin at the time of
payment;
2. Document in writing agreements made pursuant to paragraph 1
of this subsection, which may be kept electronically and maintained
by this state for that pay period;
3. Be granted the option at the start of each pay period to
revise his or her election to receive payment in Bitcoin or United
States dollars or some combination thereof. If no adjustment is
made, the agreement from the previous pay period will hold; and
4. Deposit payments in the self-hosted wallet of the employee
or to an account designed by the employee, but controlled by a third
party, which can safely hold Bitcoin.
D. The State Treasurer shall put out a request for proposal for
a firm dealing with digital assets to implement the provisions of
this act for paying state employees and vendors with Bitcoin. The
State Treasurer shall consider the following factors when
determining a firm to implement the processing of Bitcoin payments
pursuant to the provisions of this act:
1. The fees associated with paying state employees and vendors
in Bitcoin;
2. The speed of paying state employees and vendors in Bitcoin;
3. The cybersecurity protocols of the firm applying;
4. The ability of the firm to provide custody solutions to
employees and vendors;
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5. Any license the firm may hold with this state; and
6. Any other factors the State Treasurer deems relevant.
E. The State Treasurer shall enter into a contract with a firm
pursuant to the provisions of subsection D of this section no later
than January 1, 2027.
F. The State Treasurer may promulgate rules to effectuate the
provisions of this act.
G. The Oklahoma Tax Commission shall issue guidance on the tax
implications of receiving digital assets as payment no later than
January 1, 2027.
SECTION 5. This act shall become effective November 1, 2026.
60-2-3486 CAD 1/15/2026 11:40:34 AM