Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 4-16-25
Good Afternoon Dinar Recaps,
OKLAHOMA KILLS BITCOIN RESERVE PROPOSAL IN SENATE COMMITTEE VOTE
Oklahoma’s attempt to become one of the first U.S. states to implement a Bitcoin reserve has come to an abrupt end.
In a tight 6-5 vote on Monday, the Senate Revenue and Taxation Committee struck down House Bill 1203, also called the Strategic Bitcoin Reserve Act, despite late momentum and a surprise vote reversal from Sen. Christi Gillespie.
Gillespie, who had planned to vote no “up until this afternoon,” changed her mind after “a couple of constituents” reached out.
"A lawmaker changed their ‘No’ vote to a ‘Yes’ because they heard from their Bitcoiner constituents!" tweeted Dennis Porter, CEO and co-founder of Satoshi Action Fund, urging Bitcoin reserve advocates to keep pressure on legislators. “Your voice matters!”
Still, the effort fell short in Oklahoma. The "no" votes came from Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, and Dave Rader, along with Democrats Julia Kirt and Mark Mann.
Sen. Christi Gillespie voted YES on Oklahoma's Bitcoin Reserve Bill.
She states that "up until this afternoon", she was going to vote no.
However, she was convinced to vote yes by "a couple of constituents" that reach out and persuaded her.
Introduced by Rep. Cody Maynard in January, HB1203 would have allowed Oklahoma’s state treasurer to invest in Bitcoin and other qualifying digital assets, defined as any with a market capitalization above $500 billion for the past year. At present, only Bitcoin meets that threshold.
An earlier committee passed the bill in February by a wide 12–2 margin, setting up Monday’s high-stakes showdown.
State Bitcoin reserve efforts
With Oklahoma now out of the picture, New Hampshire, Texas, and Arizona have emerged as the top contenders in the race to become the first U.S. state to establish a strategic Bitcoin reserve.
It also marks the latest blow to such proposals, following recent rejections in Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a bill permitting up to 10% of the state’s general fund to be invested in Bitcoin and precious metals. The 192-179 vote sends the bill to the Senate for further consideration.
On the same day as New Hampshire’s vote, Florida’s House Insurance and Banking Committee unanimously passed HB487, which would allow up to 10% of certain state funds to be invested in Bitcoin.
Arizona, meanwhile, continues to lead in terms of legislative momentum. On March 24, the state’s House Rules Committee approved two complementary bills, SB1373 and SB1025, that proposed the Arizona State Treasurer invest public funds in Bitcoin.
The bills now await a full floor vote in the House. If they pass, the legislation will head to Governor Katie Hobbs for final approval.
On March 6, the Texas Senate passed SB-21, a Bitcoin strategic reserve bill, in a 25–5 vote after a contentious debate on the Senate floor.
At the moment, 47 State Bitcoin Reserve (SBR) bills have been introduced across 26 states, with 40 active bills still live in 20 states, as per the reserve tracker Bitcoin Laws’ data.
@ Newshounds News™
Source: Decrypt
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BRICS: 2 COUNTRIES SETTLE OIL TRADE IN NEW CURRENCY, DISCARD US DOLLAR
China is doing everything possible to advance the de-dollarization agenda and dim the lights on the US economy. BRICS members China and Russia recently sidelined the US dollar to settle oil and gas payments in 2025. The development adds pressure on the US economy as developing nations are using new modes of payment and not the dollar.
Reducing dependency on the US dollar will lead to the currency facing deficits and bring inflation into the homeland. The USD needs to maintain its demand and supply mechanism in the forex markets and failing to do so can bring its doom.
BRICS: China & Russia Settle Oil Trade in New Currency
Trillion-dollar asset management firm VanEck recently confirmed that BRICS members China and Russia have settled oil payments using the leading cryptocurrency Bitcoin. This is a major step in advancing the de-dollarization agenda where the US dollar had a command in the oil and gas industry. “China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” wrote VanEck.
VanEck also wrote that the new payment method using BTC for oil settlement “might be bullish for Bitcoin.” BRICS members China and Russia could usher into a new era where Bitcoin is the new payment method and not the US dollar.
The trillion-dollar management firm noted that even Bolivia is following the route of using cryptocurrencies for trade and transactions. “Bolivia has announced plans to import electricity using crypto. And French energy utility EDF is exploring whether it can mine Bitcoin with surplus electricity currently exported to Germany,” they wrote.
De-dollarization is now a major concern as the White House has imposed tariffs on over 185 countries. However, the Trump administration has now announced a 90-day pause in tariffs but the damage has already been done. The BRICS bloc is now more focused on bringing the US dollar down by not using it for oil transactions.
@ Newshounds News™
Source: Watcher Guru
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