Oklahoma exits Bitcoin Race after the taxation board rejects HB1203 in 6-5 votes

The proposed current strategic request Bitcoin (HB1203) failed to advance in the income and taxation board, after a narrow vote 6-5 against the law.

Account aims to authorize the civilian treasurer to invest funds from the General Fund, the Income Stabilization Fund and the Constitutional Reserve Fund in Bitcoin (Btc) and other main digital means (with market caps over $ 500 billion), including stablecoins. Investments would be limited to 10% of funds per account, and property would be held with a regulated guardian.

The bill included provisions for the use of a digital means of putting and integrating options for cropto investment in state pensions. It is stated that taxes or fees are paid in BTC must be converted to dollars before they are transferred to the state treasury.

The bill was initially introduced To the representative of Oklahoma representatives 15. January by Representatives Cody Mainard, who expressed strong support to BTC as a vernette against the termination of the government and inflation., guidance:

“Bitcoin presents freedom from printing from our purchasing power. As a decentralized form of money, Bitcoin cannot manipulate or create state-owned value for those who believe in the principles of financial freedom and healthy monetary principles.”

The account then passed Government Supervisory Board with 12-2 votes 25. February, and then is full of houses with 77-15 votes 24. Marta.

However, the HB1203 faced a bipartizan opposition in the last vote of the Board 14. April. Six “no” votes arrived from Senator Todd Gollihare®, Chuck Hall (R), Brent Howard (R), Julia Kirt (D), Mark Mann (D), Mark Mann (D).

With this voting, Oklahoma comes out of Bitcoin Racing, leaving Arizona, New Hampshireand Texas as leading candidates on adoption at the state level of investment strategy with crypts. The bill, originally ordered to enter into force 1. November this year, will not move forward.