TL; DR
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You read it in the title: Oklahoma just became the 12th state in the US to become one Bitcoin Rights Act.
That’s big news!
But what on earth is a ‘Bitcoin rights bill’?
Here’s what the heck a ‘Bitcoin rights bill’ is:
It is a proposal for a new law that would help make digital freedom and innovation a right enshrined in 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 to keep the cryptocurrency running smoothly.
More good news is that Oklahoma’s Bitcoin Rights Act received overwhelming support with an 81-1 vote in the State House.
However, before we get too excited, while this is great news, there is still a long way to go before any laws are passed.
The process might look something like this: the bill is introduced into the legislative body > reviewed by the relevant committee > presented to the full House or Congress > voted on > approved and signed by the president.
While it may feel like there is still a long way to go, the more support states provide, the more likely a law will eventually become law.
Hallelujah!
