HB 1203 Oklahoma House · 2026 Regular Session

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 specific state funds (General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund) in Bitcoin or digital assets with a $500 billion+ market cap, plus approved stablecoins. The bill requires all digital assets to be held through secure custody solutions meeting strict security standards, including multi-party governance and encrypted storage in geographically diverse facilities. It also mandates that taxes paid in Bitcoin be converted to U.S. currency and transferred to the State General Fund, and permits state retirement funds to hold digital assets under similar secure custody rules. The act applies directly to state treasury operations, retirement funds, and tax collection processes. The bill was introduced in 2025 but failed in committee in April 2025.

Bill status died 3 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Apr 2025

House Passage

Mar 2025

Senate Passage

Governor

Introduced Feb 3, 2025 Last action Apr 15, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed → Floor (House) · 5 edits

MODERATE

The bill was renumbered and reformatted from its Engrossed version to the House Floor version, with substantive changes to investment limits, definitions, and custody requirements. The most significant policy change is the increase in the stablecoin investment limit from 5% to 10% of public funds, and the addition of a new option for the State Treasurer to hold assets directly through a secure custody solution. Several definitions were reordered and clarified, particularly around 'Bitcoin' and 'Digital asset', and the effective date remains November 1, 2025.

Scope change

The bill's scope expanded to include direct State Treasurer custody of digital assets as a new option alongside qualified custodians and exchange-traded products.

FISCAL

Increased the stablecoin investment limit from 5% to 10% of total public funds in an account.

REQUIREMENT

Added a new option allowing the State Treasurer to hold digital assets directly through a secure custody solution, in addition to using qualified custodians or exchange-traded products.

DEFINITION

Reordered and slightly modified definitions for 'Bitcoin', 'Digital asset', 'Stablecoin', and 'Staking' to improve clarity and consistency.

TECHNICAL

Added detailed requirements for 'Secure custody solution' including multi-party governance, encrypted channels, geographically diversified data centers, and disaster recovery protocols.

Removed the requirement that stablecoins must receive regulatory approval from competent authorities of the United States or any state.

Floor votes · House Mar 24, 2025

How they voted

77–16

Passed · 7 other

Total votes 100

Mar 24, 2025

D Democratic19

2 Yea 12 Nay 5

63% Nay

R Republican81

75 Yea 4 Nay 2

92% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 14, 2025

Committee

Failed in Committee - Revenue and Taxation

upper

Mar 25, 2025

Introduced

First Reading

upper

Mar 25, 2025

Lower · Passed

Engrossed, signed, to Senate

lower

Mar 24, 2025

Committee

Referred for engrossment

lower

Mar 24, 2025

Lower · Passed

Third Reading, Measure passed: Ayes: 77 Nays: 15

lower

Mar 24, 2025

Introduced

Amended by floor substitute

lower

Feb 25, 2025

Lower · Passed

CR; Do Pass Government Oversight Committee

lower

Feb 12, 2025

Lower · Passed

Policy recommendation to the Government Oversight committee; Do Pass Banking, Financial Services and Pensions

lower

Feb 4, 2025

Committee

Referred to Banking, Financial Services and Pensions

lower

Feb 3, 2025

Introduced

First Reading

lower

2 primary · 0 co-sponsors