Oklahoma’s bill aims to protect the state’s citizens’ right to independent custody of digital assets

PANews reported on May 17 that according to Blockworks, this week, Oklahoma in the United States passed a bill aimed at protecting state residents’ right to independent custody of digital assets. The bill was signed by Governor Kevin Stitt and will take effect on November 1, 2024. The bill, sponsored by four Republican lawmakers, explicitly prohibits "restricting or prohibiting" state residents from using self-hosted wallets or hardware wallets to independently store digital assets. Additionally, residents of the state can legally mine cryptocurrencies at home and in industry, subject to noise regulations.

The bill also stipulates that individuals and companies engaged in digital asset mining, staking and other activities do not need to obtain a currency transmission license, and prohibits the implementation of discriminatory electricity prices for digital asset mining companies. Residents will not have to pay additional taxes when using cryptocurrencies to pay for goods and services.