Oklahoma Considers Bitcoin Pay Option For State Employees
Oklahoma lawmakers have recently put forth legislation that could potentially revolutionize the way state employees, vendors, private businesses, and residents engage in financial transactions. Senate Bill 2064, introduced by Senator Dusty Deevers during the 2026 legislative session, aims to establish a legal framework for the use of bitcoin as a medium of exchange and compensation within the state.
The bill, if passed, would allow Oklahoma state employees the option to receive salaries or wages in bitcoin, either based on the asset’s market value at the start of a pay period or at the time of payment. Employees would have the flexibility to choose between receiving compensation in bitcoin, U.S. dollars, or a combination of both, with payments being deposited into either a self-hosted wallet controlled by the employee or a designated third-party custodial account.
In addition to state payroll and procurement, the legislation also extends to vendors contracting with the state, giving them the opportunity to opt into receiving payment in bitcoin on a per-transaction basis. The value of bitcoin payments would be determined by the market price at the time of the transaction unless otherwise agreed upon in writing.
Furthermore, the bill includes provisions aimed at reducing regulatory hurdles for businesses operating in the digital asset space. Companies that exclusively deal in digital assets and do not exchange them for U.S. dollars would be exempt from Oklahoma’s money transmitter licensing requirements.
If SB 2064 is enacted, the Oklahoma State Treasurer would be tasked with issuing a request for proposals for a digital asset firm to process bitcoin payments for state employees and vendors. The Treasurer would need to consider factors such as fees, transaction speed, cybersecurity practices, custody options, and relevant state licenses when selecting a provider. A contract with a provider would need to be finalized by January 1, 2027, and the Treasurer would be authorized to promulgate rules to implement the program.
This initiative is not entirely new to Oklahoma, as Senator Dusty Deevers had previously introduced a similar bill called the Bitcoin Freedom Act in January 2025. The state’s move towards integrating bitcoin into its economy aligns with efforts seen in other states like New Hampshire and Texas, which have also explored incorporating digital assets into public finance.
New Hampshire, for instance, passed the nation’s first Strategic Bitcoin Reserve law, allowing the state to hold up to 5% of its funds in high-market-cap digital assets and even approve a bitcoin-backed municipal bond. Texas has made significant strides as well, creating a Strategic Bitcoin Reserve and making the first U.S. state Bitcoin ETF purchase of around $5 million.
If SB 2064 is approved, it would go into effect on November 1, 2026, positioning Oklahoma as one of the few U.S. states actively exploring the direct integration of bitcoin into government payment systems. The bill also mandates that the Oklahoma Tax Commission issue guidance on the tax treatment of digital assets received as payment by January 1, 2027, addressing a common area of uncertainty for employees and employers alike.
Overall, the proposed legislation in Oklahoma signals a progressive approach to embracing digital assets and modernizing financial systems within the state. By providing individuals and businesses with the option to transact in bitcoin, the potential impact on the state’s economy could be significant.
