Florida Postpones Strategic Bitcoin Reserve Bill
Florida’s House Bill 487 and Senate Bill 550 were “indefinitely postponed and withdrawn from consideration” on May 3, after the Florida legislature did not advance the cryptocurrency reserve-related legislation before adjourning on May 2.
These bills aimed to allow the state to invest up to 10% of certain state funds in Bitcoin to establish a strategic cryptocurrency reserve.
As a result, Florida joins Wyoming, North Dakota, South Dakota, Pennsylvania, Montana, and Oklahoma in stepping back from similar legislative efforts.
Meanwhile, Arizona is still considering two related bills: HB 2749, which proposes using profits from unclaimed property funds to support Bitcoin reserves in a budget-neutral way, and SB 1373, which seeks to authorize the state treasurer to allocate up to 10% of state funds to the digital asset sector.
