Oklahoma has become the first US state to enact a law protecting Bitcoin autonomy.
The new law states that citizens cannot be prevented from owning and controlling digital assets Hardware bag. It also states that the state government cannot ban or restrict the use of crypto to purchase legal goods and services.
It was the so-called ‘Bitcoin Rights' bill—HB3594. Signed into law Oklahoma Republican Gov. Kevin Stitt said Monday and the nonprofit Satoshi Action Fund said more states would follow.
“At the end of the day, I think lawmakers across the country are very open to this kind of policy,” Dennis Porter, the fund's CEO and co-founder, told Decrypt.
The bill mentions Digital asset miningAllowing ordinary citizens to participate in the industry – within limits.
“It shall be lawful in the State of Oklahoma to engage in in-home digital possessions as long as the person engaged in in-house reproduction of digital properties complies with all local audio regulations,” the law states.
Cryptomining involves creating new coins and running digital coin networks. It is an energy-intensive industry that uses a large amount of hardware, space, and resources. Most Bitcoin mining today is industrial scale operations. Generate a lot of noise.
The Satoshi Action Fund created a template for the bill, which was introduced in 15 other states. The Oklahoma Bitcoin Association was instrumental in educating lawmakers about the benefits of Bitcoin, making Oklahoma the first state to pass the bill into law, Porter said.
Crypto has become an increasingly political topic, and one Growing along partisan lines. At the national level, at least, Democrats are typically at Possible risks Technology, while Republican Defy the rules They say hamstring innovation in a globally competitive marketplace.
Porter said it's inevitable that similar laws will come to other states — and it's not a matter of “left and right.”
“Elizabeth Warren is a senior figure in the Biden administration;” quoting US Senator Elizabeth Warren, an outspoken crypto critic “He‘She really likes Elizabeth Warren and her banking friends who are influencing federal policy.“
“As the technology continues to grow in focus and as we investigate further, we see people on the left taking a closer look and not just believing what the mainstream media tells them about this technology,” Porter added.
Edited by Ryan Ozawa.
Daily Debrief Newspaper
Start every day with top news stories, plus original features, podcasts, videos and more.
