Florida’s House Bill 487 and Senate Bill 550, which sought to permit the state to invest up to 10% of its funds in Bitcoin to create a strategic cryptocurrency reserve, have been indefinitely postponed and withdrawn. This decision followed the Florida legislature’s adjournment on May 2 without advancing the bills.
With this outcome, Florida joins other states like Wyoming, North and South Dakota, Pennsylvania, Montana, and Oklahoma in stepping back from similar legislative efforts.
Meanwhile, Arizona is still considering two related bills, HB 2749 and SB 1373. HB 2749 proposes using profits from unclaimed property funds to support Bitcoin reserves in a budget-neutral manner, while SB 1373 aims to authorize the state treasurer to allocate up to 10% of state funds to digital assets.
