Public finance; enacting the Strategic Bitcoin Reserve Act; definitions; investments; State Treasurer; assets; state retirement funds; digital assets; effective date.

HB 1203, the "Strategic Bitcoin Reserve Act," would allow Oklahoma's State Treasurer to invest up to 10% of three specific state funds (the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund) in Bitcoin or digital assets with a market cap exceeding $500 billion, plus approved stablecoins. It requires all investments to be held through secure custody solutions (like encrypted government-controlled storage) or qualified custodians, and mandates that stablecoins must have regulatory approval from U.S., U.K., Japanese, or EU authorities. The bill also specifies that taxes paid to the state in Bitcoin would be converted to U.S. currency and deposited into the State General Fund. This would directly affect how state funds are managed and invested, with no current implementation as the bill failed committee review in April 2025.