Oklahoma has enacted legislation to safeguard residents’ rights to self-custody digital assets, including cryptocurrencies, effective November 1. The bill, known as OKHB3594, was signed into law by Governor Kevin Stitt and supported by Republican legislators, including State Senators Bill Coleman and Dana Prieto, and State Representatives Brian Hill and Cody Maynard.

The new law explicitly bans any restrictions on using or self-custody digital assets through self-hosted or hardware wallets. It also permits Oklahomans to mine cryptocurrencies at home or on an industrial scale, provided they comply with local noise regulations.

Proud to have delivered this win to Bitcoin holders in Oklahoma and across the USA. The right to self-custody is now codified into law. This can now become a blueprint for the nation.

The legislation also clarifies that individuals engaged in home digital asset mining, staking, staking as a service, or running a digital asset mining business are not required to obtain a money transmitter license. Furthermore, it ensures that discriminatory electricity rates for digital asset mining operations are not allowed.

Residents can use cryptocurrencies to purchase goods and services without incurring additional taxes. The bill specifies that digital assets used as a payment method will not be subject to extra taxes, withholdings, assessments, or charges by state or local governments solely based on their use as payment.

Dennis Porter, CEO of Satoshi Act Fund, praised the bill, emphasizing its role in protecting “fundamental Bitcoin rights.” He stated, “The idea that ‘We the People’ cannot hold our own assets is antithetical to American values. Without the ability to manage our wealth, we lose control of our destiny and the chance to create better futures for our families. This law ensures that everyone can secure not only their Bitcoin but all their assets.”

For more updates and news on cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.

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