Crypto-Friendly Law Comes into Effect in Oklahoma

Crypto-Friendly Law Comes into Effect in Oklahoma

By: Isha Das

Oklahoma has approved a bipartisan bill that safeguards the rights of crypto users and miners. Governor Kevin Stitt signed HB 3594 into law on May 13, which will come into full effect by November 1.

The law prevents Oklahoma government from restricting, prohibitng or impairing cryptocurrency usage for purchases or self-custody. Additional taxes or other charges directed specifically at cryptocurrency usage are also barred - rules for legal tender still persist.

Significantly, the bill defends the right of individual and commercial cryptomining. Zoning modifications for mining companies can be challenged, and specific sound restrictions for mining operations are disallowed, although other data center requirements will still apply. Political divisions are barred from requiring mining enterprises, blockchain node operators and others to secure a money transmitter license.

Oklahoma is now the inaugural state to enact legislation safeguarding these rights. No restrictions on self-custody, or unilateral boundaries for mining and running a node will be imposed.

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