The Oklahoma House of Representatives has passed the Strategic Bitcoin Reserve Act (HB 1203) with a majority of 77 votes to 15. According to Bitcoin Laws, the bill still needs to be reviewed by the Senate.
Oklahoma State Representative Cody Maynard had introduced HB 1203 on January 15 to establish Bitcoin as a strategic reserve asset. Maynard maintained that “this bill is about protecting the hard-earned money of Oklahoma’s citizens.”
Oklahoma passes the Strategic Bitcoin Reserve Act (HB 1203)
HB 1203 Bitcoin Strategic Reserve has passed the House in Oklahoma 77-15! 🥳🥂
Huge congratulations to Rep. Cody Maynard, next stop Senate! pic.twitter.com/IYrWCZFlcf
— Oklahoma Bitcoin Association (@oklahomabtc) March 24, 2025
The Oklahoma House of Representatives passed the Strategic Bitcoin Reserve Act (HB 1203) on March 25. The House passed the bill with 77 votes in favor and 15 votes against.
Bitcoin Laws revealed that Oklahoma’s Strategic Bitcoin Reserve Act currently had passed the Government Oversight Committee on February 25 with a 12-2 vote.
HB 1203, introduced by House Representative Cody Maynard, seeks to establish the Strategic Bitcoin Reserve Act, which will allow the State Treasurer of Oklahoma to invest public funds in Bitcoin and other digital assets, as well as stablecoins. The State Treasure of Oklahoma can invest funds from the State General Fund, Revenue Stabilization Fund, and the Constitutional Reserve Fund. Maynard acknowledged that the investments would be managed prudently to meet the needs of fund managers and generate reliable returns for citizens.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power. As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
–Cody Maynard, Oklahoma State Representative.
Oklahoma’s SBR investment is also limited to 10% of the total funds in each account. The Strategic Bitcoin Reserve also highlights that digital assets can be held directly by the State Treasurer. The state’s treasurer can hold the crypto using a secure custody solution, managed by a qualified custodian, or invested in exchange-traded products.
Oklahoma’s bill also specifies that stablecoins must be approved by regulatory authorities in the United States or other specified countries. The SBR also allows Oklahoma’s retirement funds to hold virtual assets through similar mechanisms and mandates that any taxes or fees paid in Bitcoin will be transferred to the State General Fund and reimbursed in U.S. currency.
The Bitcoin reserve also allows the State Treasurer to engage in digital staking while retaining legal ownership. The HB1203 bill is set to become effective on November 1, 2025.
U.S. states moves towards Strategic Bitcoin Reserve
There are 25 bills related to strategic Bitcoin reserves making their way through 18 state governments at different stages of legislation approval. Five U.S. states have already rejected their Bitcoin bills including Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming.
Montana State Representative Steven Kelly argued on February 22 that “it’s still taxpayer money, and we’re responsible for it, and we need to protect it,” and added that “these types of investments are way too risky.”
Arizona’s House Rules Committee cleared two strategic virtual asset reserve bills in Arizona on March 24. The bills are now headed to the House floor for a full vote. The State’s House Rules Committee passed both SB 1373 and SB 1025, and ruled them “constitutional and in proper form.”
Bitcoin Laws believes that both bills have a decent chance of passing because Republicans hold a 33-27 majority in Arizona’s House of Representatives. The firm argued that the final hurdle could be the state’s Democratic governor, Katie Hobbs, who has a history of vetoing bills before the House. Hobbs has blocked 22% of bills in 2024, making it the highest rate of any state governor.
Arizona’s Strategic Asset Reserve Bill (SB 1373) aims to focus on establishing a strategic virtual currency reserve made up of crypto seized through criminal proceedings. The Arizona Strategic Bitcoin Reserve Act (SB 1025) deals with Bitcoin, and will allow Arizona’s Treasury and state retirement system to invest up to 10% of its funds into BTC.
The Texas Senate also passed the Strategic Bitcoin Reserve Bill (SB 21) by a vote of 25 to 5 on March 6. SB 21 will still need to pass the House and get the governor’s signature to pass into law. Democrat Representative Ron Reynolds introduced a new bill following the Texan bill to cap the size of the previously uncapped reserve to $250 million.
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