House Bill 1203 would allow for state savings accounts and pension funds to invest into cryptocurrency. The measure authored by Representative Cody Maynard passed the Oklahoma House this week.
“This is a groundbreaking initiative to position Oklahoma as a national leader in embracing sound money principles and cutting-edge fiscal policy,” Maynard said. “It’s aligned with President Trump’s vision for digital assets and financial stability.”
The measure allows the state treasurer to invest up to five percent of the funds in the state General Revenue Stabilization Fund and Constitutional Reserve Fund in Bitcoin or any other digital asset with a market cap of more than $500 billion and stable coins. Any state pension system may follow suit.
Maynard is calling HB 1203 the Strategic Bitcoin Reserve Act.
“This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.”
The bill heads to the Oklahoma Senate for consideration.
