Oklahoma lawmakers have introduced Senate Bill 2064 during the 2026 legislative session, a landmark piece of legislation aimed at establishing a comprehensive legal framework for the use of Bitcoin as a medium of exchange and compensation within the state. Introduced by Senator Dusty Deevers, the bill would permit state employees, vendors, private businesses, and residents to negotiate and receive payments in Bitcoin, without designating it as legal tender.

Crucially, SB 2064 explicitly clarifies that its provisions do not conflict with the U.S. Constitution's prohibition on states coining money or declaring legal tender other than gold and silver. Instead, it recognizes Bitcoin as a financial instrument that can operate effectively within existing legal frameworks, fostering its adoption across the state economy.

Under the proposed bill, Oklahoma state employees would gain the option to elect to receive their salaries or wages in Bitcoin. This choice could be based on the asset's market value at the start of a pay period or at the time of payment. Employees would have the flexibility to revise their payment preferences at the beginning of each pay period, allowing them to choose compensation in Bitcoin, U.S. dollars, or a combination of both. These Bitcoin payments would be deposited either into a self-hosted wallet controlled by the employee or into a designated third-party custodial account.

Beyond state payroll, the legislation also extends to state procurement, enabling vendors contracting with the state to opt into receiving payments in Bitcoin on a per-transaction basis. The Bitcoin value of these payments would typically be determined by the market price at the time of the transaction, unless explicitly agreed upon otherwise in writing. Furthermore, the bill broadly authorizes private businesses and individuals throughout Oklahoma to negotiate and receive payments in Bitcoin, reinforcing its role as a voluntary medium of exchange.

To facilitate a smoother transition and reduce regulatory hurdles, SB 2064 includes provisions for bitcoin-native businesses. Firms that deal exclusively in digital assets and do not exchange them for U.S. dollars would be exempt from Oklahoma's money transmitter licensing requirements. The bill directs the Oklahoma State Treasurer to issue a request for proposals (RFP) to secure a digital asset firm capable of processing Bitcoin payments for state employees and vendors. Key considerations for selecting this provider include fees, transaction speed, cybersecurity practices, custody options, and relevant state licenses. The Treasurer is mandated to finalize a contract with a chosen provider by January 1, 2027, and is authorized to promulgate rules to implement the program effectively.

This initiative builds upon previous efforts by Senator Deevers, who introduced a similar