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Cryptocurrency proponents scored a major victory as Oklahoma Governor Kevin Stitt signed HB 3594 into law, landmark legislation protecting activities in that sector. The new law prohibits state or local government actions that would ban or excessively tax the use of cryptocurrency transactions and self-custody, thus protecting the rights of Oklahoma residents to take part in the two activities.
Further to this, the bill supports home and industrial mining of cryptocurrencies, with some special provisions put in place to facilitate the operation of mining businesses in industrially zoned areas. This places Oklahoma as one of the most conducive environments for crypto enterprises, although some regions like Arkansas put restrictive measures, with the excuse that such activities are noise-making.
Echoing the industry’s approval, the Oklahoma Bitcoin Association has stated that this is the first law in the nation that explicitly guarantees rights to mine, operate nodes, and self-custody crypto. According to Dennis Porter, CEO of the Satoshi Act Fund, the legislation is a critical defense against ever-increasing regulatory pressures, leaving this development as the singular moment for crypto rights in the United States.
