Oklahoma adopts Bitcoin Reserve Legislation as Other States Pause
Oklahoma’s attempt to establish a Bitcoin reserve for the state took a major step forward after the House Government Oversight Committee voted to approve HB 1203, advancing the bill to the full House to be debated.
The Strategic Bitcoin Reserve Act was introduced by Rep. Cody Maynard and passed with 12-2 votes.
If enacted, the bill would allow the state treasurer to invest public funds in Bitcoin and stablecoins, provided they meet a $500 billion market capitalization threshold over the past year — a criterion currently met only by Bitcoin.
Maynard has presented the bill as an insurance policy against inflation. Bitcoin, Maynard argues, offers protection against monetary policies which erode purchasing power.
Oklahoma would be the first state to adopt Bitcoin reserves.
Some States reject Bitcoin bills
Oklahoma’s proposal has been embraced by several states, but similar legislation in other states has been halted or discarded.
Montana, North Dakota Pennsylvania, South Dakota and Wyoming have all rejected or abandoned Bitcoin Reserve Bills in the last few weeks.
The opposition has been driven by fears over volatility and the risk to taxpayers. Rep. Steven Kelly in Montana expressed concerns over investing public money in crypto. He warned that Bitcoin’s fluctuating price could be a threat to state funds.
Kelly said,
“It’s still taxpayer money, and we need to protect it.”
Bitcoin’s role as a public asset has divided lawmakers. Some see it as a strategic investment, while others view it as an unreliable one.
Interest at the state level remains
Bitcoin reserve proposals continue to be active in the US, despite recent setbacks. There are currently 25 related bills under discussion in the 18 state legislatures. This reflects the growing interest in Bitcoin to act as a financial hedge.
Some supporters argue that the integration of Bitcoin into state reserves can protect against inflation, economic instability and national debt.
But critics are concerned that it is a risky investment because of the price fluctuations and regulatory uncertainties.
Oklahoma’s Bill will now be debated by the entire House and may receive amendments. Oklahoma would become the first state to adopt Bitcoin as a part of its financial reserve if the bill is passed. This move has been highly controversial across the nation.
Posted In: Bitcoin, US, Adoption, Crypto, Featured, Legislation Author 
Assad Jafri
AJ is a journalist who has spent over a decade honing his skills in different countries. He was a journalist passionate since the Arab Spring of 2011 in Yemen. He specializes in financial journalism and now focuses his reporting on crypto.
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