Oklahoma’s legislature has introduced a new bill permitting state employees, vendors, private businesses, and citizens to receive and negotiate payments in Bitcoin. Senate Bill 2064, presented by Senator Dusty Dvoras during the 2026 legislative session, establishes a legal framework for using Bitcoin as a medium of exchange and compensation, though it does not recognize Bitcoin as legal tender. The bill clarifies that it does not conflict with the U.S. Constitution’s clause designating only gold and silver as legal currency, instead recognizing Bitcoin as a financial instrument under existing law. If enacted, Oklahoma state employees will have the option to receive their salaries in Bitcoin, with payments valued at market rates at the time of payment or initiation, and they may switch their payment preference with each payroll cycle, receiving compensation in Bitcoin, U.S. dollars, or both. Vendors contracting with the state will also be authorized to accept Bitcoin payments on a per-transaction basis. Additionally, the law grants private businesses and individuals the right to negotiate and receive payments in Bitcoin, promoting the cryptocurrency’s use within the state economy. The bill includes regulatory relief for Bitcoin-related businesses, such as exempting companies dealing solely with digital assets from Oklahoma’s money transmitter licensing requirements. The state treasurer is directed to engage a digital asset firm to manage Bitcoin payments for state employees and vendors. This initiative follows similar efforts in states like New Hampshire and Texas to integrate Bitcoin into public finance strategies. If approved, the bill will take effect on November 1, 2026, making Oklahoma one of the few states to incorporate Bitcoin into its official payment system. The Oklahoma Tax Commission will also be tasked with issuing tax guidance on digital asset payments by January 1, 2027, to provide clarity for both employees and employers.
Source: bitcoinmagazine
