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You read it in the title: Oklahoma just became the 12th state in the US to pass a Bitcoin rights bill.
Which is huge news!
But what the heck is a ‘Bitcoin rights bill’?
Here’s what the heck a ‘Bitcoin rights bill’ is:
It’s a proposal for a new law that would help make digital freedom and innovation a right, enshrined by law.
Specifically, the key ideas in this bill include the absolute right to buy and sell BTC and the freedom to mine BTC.
It also supports mining and validation of the BTC blockchain which are crucial processes for the cryptocurrency to continue to run smoothly.
In more good news, it’s reported that the Bitcoin rights bill received an overwhelming amount of support in Oklahoma with an 81-1 vote in the State House.
Before we get too excited however, while this is great news, there’s still a long way to go before any laws are passed.
The process would look something like this: the bill gets submitted to the legislative body > reviewed by the relevant committee > presented to the full parliament or congress > voted on > approved and signed into law by the President.
So, while it feels like there’s still a long way to go, the more support that states provide, the better the chances are of a law to be eventually put into effect.
Hallelujah!
