Oklahoma Enacts Watershed Bitcoin Rights Law Protecting Self-Custody Wallets

Oklahoma Governor Kevin Stitt delivered a major win to digital asset supporters Monday with the enactment of a new Bitcoin rights bill (a.k.a HB3594) focused on preserving fundamental crypto rights amidst the U.S. government’s crackdown on self-custody wallets. Championed in the House by Congressman Samuel Brian Hill and Senator Bill Coleman, the new law will see the state government prohibited from banning or restricting “the use of digital assets for purchasing legal goods/services, or the self-custody of digital assets using a self-hosted wallet or a hardware wallet.” Equally important, HB3594 will ban additional taxes on Bitcoin when used as a form of payment and protect Oklahomans’ right to mine while “clarifying that certain persons are not required to obtain a money transmitter license.” Based on policy drafts created by the non-profit Satoshi Action Fund, the bill will only serve to further Oklahoma’s pro-crypto stance towards digital asset regulation.