An Oklahoma senator proposed a new bill for his state to build a financial institution, which will mainly be engaged in crypto business.
Senator Nathan Dahm said, “I’ve always been interested in cryptos since bitcoin first came out but once I heard what Wyoming (especially Rep Tyler Lindholm) was doing I decided to pursue something in Oklahoma”.
The proposed bill would be introduced in early February 3 and come into effect in the first week of November 2020.
The institution will provide state-of-the-art financial and technical services to crypto enthusiasts and investors.
“The bills would have to be given a hearing in committee when we start session in February. In the past the chair of the committee originally expressed interest until the lobbyist for the banking commission convinced her to oppose all crypto bills,” Dahm said.
“So the main thing that needs to happen is education since so many legislators base their decisions on what lobbyists & donors tell them when they don’t have an understanding of the concept (like cryptos & blockchain) for themselves,” he added.
The state is keen on forming partnerships with blockchain innovators as well as developing topnotch financial tools.