US State Oklahoma governor to sign Bitcoin-friendly “House Bill 1600”
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The governor of Oklahoma seems ready to green signal House Bill 1600, which will allow a better environment for Bitcoin mining companies in the state.
Oklahoma, a landlocked state in the South Central region of the United States, is proactive in adopting cryptocurrency and blockchain technology, introducing legislation to promote digital assets and recognize blockchain applications. The state aims to leverage this technology for government and financial services, fostering a favourable environment for crypto businesses and economic growth.
Recently the Oklahoma Senate passed House Bill 1600. This bill aimed to give tax exemption to Bitcoin and all crypto mining operators in this state. Bill passed in the state Senate with a 29 to 15 vote, and the state House passed it with a 68 to 20 vote.
This bill is now on Governor Kevin Stitt’s desk and reportedly he is excited to sign it.
Oklahoma bill giving tax credit to digital asset mining operations heads to governor’s desk https://t.co/xwhkERgYe2
— Bitcoinik (@Bitcoinikdotcom) June 2, 2024
Crypto enthusiasts call this development a highly bullish thing for the crypto sector adoption in the US State.
Oklahoma News: HUGE!!!! Oklahoma Senate passes House Bill 1600 that gives tax exemption to Bitcoin and all crypto miners.
This coming right after the governor signed the Bitcoin Bill of rights into Oklahoma Law 3 weeks ago.
The bill now heads to the governor’s desk and he is… pic.twitter.com/vST67TYr4R
— MartyParty (@martypartymusic) May 31, 2024
USA politics & Crypto Adoption
The whole crypto industry knows very well how the American financial regulatory stepped out from their corresponding regulatory authority to take legal actions against the top crypto companies, despite the fact the majority of the crypto companies were following all the possible rules & laws to comply with the traditional financial rules.
These days, the majority of the politicians in the US jurisdiction are supporting crypto adoption. In particular, former US President Donald Trump asked people to vote for himself so that he could win the presidential election in Nov 2024 & further use his administration power to push crypto adoption in the US jurisdiction under clear regulatory rules & laws.
https://t.co/kaQkWLZTBw
Former American President Trump Says The US Should Be #Crypto Leader, Not At 2nd Place— Bitcoinik (@Bitcoinikdotcom) May 26, 2024
On the other hand, independent US presidential candidate Robert Francis Kennedy (RFK) Jr. also appealed to people to vote for himself, so that he can bring Bitcoin & crypto adoption to the next level to establish a decentralised financial system in the country.
https://t.co/a5LMteTsPP#US Presidential Candidate #RFK Jr Promises To End Hostile #Crypto Regulatory Environment
— Bitcoinik (@Bitcoinikdotcom) May 31, 2024
Read also: Coinbase says “US SEC is serious about the destruction of digital assets”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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