Bitcoin Proposal Rejected by Oklahoma Senate

Oklahoma Senate Committee Rejects Bitcoin Reserve Bill

• The Oklahoma Senate Revenue and Taxation Committee voted 6-5 against House Bill 1203.
• Sen. Christi Gillespie switched her vote to “yes” after being persuaded by constituents.
• The bill, introduced by Rep. Cody Maynard, aimed to allow state investment in Bitcoin.
• Only Bitcoin currently meets the bill’s criteria of a $500 billion market cap for the past year.
• Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, and Dave Rader voted “no.”

The Oklahoma Senate Revenue and Taxation Committee narrowly rejected HB1203 with a 6-5 vote. Despite Sen. Christi Gillespie changing her vote to support the measure, it was not enough to pass the bill that would have allowed state investment in Bitcoin.