Oklahoma has signed into law a bill protecting crypto-related rights.The Oklahoma State Legislature website indicates Governor Kevin Stitt approved HB 3594 on May 13.The bill comes into effect on Nov. 1.Under the new law, the Oklahoma state government cannot prohibit, restrict, or impair the use of crypto in purchases or the self-custody of crypto.Furthermore, state and local governments cannot impose additional taxes or other charges specifically targeted at crypto. Taxes on legal tender apply.HB 3594 also protects home crypto mining and mining businesses by declaring it legal to participate in either type of mining in Oklahoma.The bill specifically ensures that businesses can operate crypto mining companies in areas zoned for industrial use. Political subdivisions can change the zoning of a mining business with the proper notice and comments, and mining firms can appeal the change in zoning.The bill also prevents political subdivisions from placing specific noise restrictions and other rules on crypto mining businesses, though general noise ordinances and data center requirements apply.The state’s public utilities commission, The Oklahoma Corporation Commission, cannot create discriminatory rate schedules for mining companies.Oklahoma cannot require parties in engaged mining, staking, and variations to obtain a money transmitter license. Similarly, it cannot require those who operate a blockchain node to obtain a money transmitter license.The Oklahoma Bitcoin Association wrote:“The law makes Oklahoma the FIRST State to codify the rights of its citizens to run a node, to mine, and to self-custody their Bitcoin.”Satoshi Act Fund CEO and co-founder Dennis Porter commented on the bill, asserting that it addresses an “onslaught of attacks” on self-custody.Certain US states and regions, most recently Arkansas, have imposed restrictions on crypto mining, sometimes citing noise pollution as a justification.Meanwhile, attempts at US-wide legislation, including Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, aim to impose restrictions in similar areas. Warren’s bill aims to restrict unhosted wallet providers, digital asset miners, validators, and other nodes.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI. Stay ahead with crypto’s key news and insights. Delivered directly, every day.Courts dismissed the case without prejudice, leaving Musk an option to refile the case at a later date.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
