Florida Withdraws Two Bills Proposing State-Level Bitcoin Reserve

Florida has withdrawn two bills aimed at establishing a state-level strategic bitcoin (BTC) reserve. House Bill 487 and Senate Bill 550 have been "indefinitely postponed and withdrawn from consideration." Both bills were filed in February to allow investment of public funds in BTC.

This decision aligns with actions in other states, including Wyoming, Pennsylvania, and Oklahoma, where similar bills have failed. Several states currently have pending bills, primarily in the committee phase.

Arizona previously advanced the most with SB 1025, which passed a House vote but was vetoed by Governor Katie Hobbs. This bill aimed to permit the investment of seized funds into BTC. Additionally, Arizona's SB 1373 proposes allowing up to 10% of state funds to be allocated to digital assets, but it has not yet reached a final vote.