Oklahoma passed legislation to protect Bitcoin’s custody rights. The bill has been signed by the governor. HB3594The law protects the citizens of Oklahoma from any bans or extra fees for their crypto holdings. Oklahomans are also protected from any bans on crypto or additional fees.
This week, the state’s Governor, J. Kevin Stitt signed into law the digital assets legislation, marking a major step for the United States. Oklahoma now has a leading role in regulatory laws across the nation.
Please Read This: US Senator Introduces Bill to Protect Bitcoin Self-Custody
Oklahoma’s New Legislation Protects Bitcoin Custody
In the past few years, US regulatory changes have shown a borderline disdain for digital assets. US Securities and Exchange Commission has always sought to regulate through enforcement. This has led to a multitude of lawsuits, with no legal framework that can guide emerging companies.
This has now changed, at least in one State. Oklahoma’s official legislation protects Bitcoin custodial rights. Oklahoma’s residents are protected by the new legislation, which promises not to ban crypto-payments or impose accessible taxes and fees.
Please Read This: Paxful CEO Advises Bitcoin Self-Custody
Satoshi Action Fund CEO Dennis Porter Porter called the legislation a massive development. Porter called it legislation “hugely massive” While discussing the additional protection of its right to mine and spend Bitcoin as well as to run a Node.
Oklahoma is one of only 11 states to have Bitcoin Safeguard legislation. These include Louisiana, Ohio, Mississippi and South Carolina. On a federal scale, the US continues to monitor this industry. These states, however, have propagated the idea that the US can maintain regulatory clarity as well as the protection of rights to digital assets.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru