Senate Bill 325 Summary

• Authorizes state employees, businesses, corporations, and Oklahoma residents to negotiate and receive payment and compensation, including salaries and wages, in Bitcoin.

• Allows vendors to elect to receive Bitcoin payments at the time a purchase order is created, with payments valued at Bitcoin's market value at the time of transaction unless otherwise agreed in writing.

• Exempts firms dealing with digital assets that do not accept or exchange U.S. currency from obtaining a state money transmitters license under Oklahoma law.

• Requires the State Treasurer to issue a request for proposal by January 1, 2026, for a firm to process Bitcoin payments to state employees and vendors, considering fees, speed, cybersecurity, custody solutions, and state licensing status.

• Requires the Oklahoma Tax Commission to issue guidance on tax implications of receiving digital assets as payment by January 1, 2026; effective date is November 1, 2025.