HomeCryptoRight to Bitcoin mining is now law in Oklahoma

Right to Bitcoin mining is now law in Oklahoma

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The state of Oklahoma in the United States signed into law a protection bill for Bitcoin mining activity in the entity. The project received Governor Kevin Stitt’s signature last Monday and becomes a light of hope for the crypto community.

Now, miners of the largest cryptocurrency will be able to carry out the activity with complete freedom, both industrially and from home. Likewise, the law provides that people have the full right to possess coins in non-custodial wallets. The authorities will not have the possibility of attacking these rights.

With this, the reputation of that entity receives a huge boost for companies that face problems in other states of the country. It should not be lost sight of that the environmental lobby in the United States has great influence in many political spheres. They use it to pursue digital mining companies to attack their businesses.

In view of the growing pressure, Oklahoma authorities at different levels chose to shield themselves from the problems. It is important to take into consideration that to date there is no conclusive proof that digital mining is negative for the environment. On the contrary, everything indicates that it is one of the most advanced industries in ESG policies.

Oklahoma becomes the new destination for Bitcoin mining

In light of growing pressure against the Bitcoin mining sector and cryptocurrency trading in general, some representatives acted. In that sense, Republican Representative Brian Hill introduced this proposal officially known as HB3594.

It is worth mentioning that the creation of this proposal was advised by the group Satoshi Action Fund. This organization helped in the creation of similar bills, which were introduced in 15 states in the North American country. In any case, the law signed by the governor of the aforementioned state allows an alternative for companies that feel threatened.

The great concern of the crypto community in the United States has to do with the lack of clarity to operate with the respective businesses. Federal regulators are trying to fill that gap, who act by applying existing laws. The latter become counterproductive because they often have little equivalence with the functioning of the crypto sector.

Aside from the Bitcoin mining sector, the new law also protects people from using self-custody wallets. The recent arrest under criminal charges against the creators of Samourai Wallet became a precedent of great concern. These types of wallets become one of the few existing vehicles that guarantee financial privacy and now there are fears that the authorities will prohibit them.

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