Florida has pulled two proposed bills that would have allowed the state to invest in Bitcoin, effectively removing itself from the growing list of states exploring strategic crypto reserves. According to the Florida Senate, House Bill 487 and Senate Bill 550 were “indefinitely postponed and withdrawn from consideration” as of May 3.<\/p>\n\n\n\n
The legislative session officially ended on May 2, without passing either of the Bitcoin-focused bills. While the session was extended until June 6 to finalize budget decisions, the issue of diversifying Florida’s treasury using cryptocurrency did not make the cut.<\/p>\n\n\n\n
In total, lawmakers passed about 230 bills covering a wide range of issues\u2014from banning fluoride in drinking water to restricting smartphone use in schools\u2014but the crypto investment proposals were left behind.<\/p>\n\n\n\n
Introduced in February, HB 487 and SB 550 would have allowed Florida\u2019s chief financial officer and the State Board of Administration to allocate up to 10% of eligible state funds into Bitcoin. The legislation sought to position Florida as a pioneer in leveraging digital assets for treasury diversification.<\/p>\n\n\n\n
Now, with both bills withdrawn, Florida joins several other states\u2014Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma\u2014that have seen similar efforts fail in their respective legislatures, according to Bitcoin Laws.<\/p>\n\n\n\n
While Florida has stepped back, Arizona remains in the spotlight. Just days ago, Governor Katie Hobbs vetoed Arizona\u2019s House Bill 1025, which would have allowed the state to create a Bitcoin reserve using seized funds. She dismissed digital assets as \u201cuntested investments,\u201d sparking backlash from the crypto community.<\/p>\n\n\n\n
Crypto advocate Anthony Pompliano criticized the veto, questioning the wisdom of politicians making investment decisions on behalf of taxpayers.<\/p>\n\n\n\n
Still, Arizona isn’t out of the race. Two more bills are in play, with HB 2749 considered the most viable. This bill proposes funding the reserve with profits from the state\u2019s unclaimed property fund\u2014a budget-neutral approach that could appeal to more lawmakers.<\/p>\n\n\n\n
As states weigh the risks and rewards of adding Bitcoin to public treasuries, Florida’s decision signals a pause\u2014but not necessarily an end\u2014to the broader movement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lawmakers Shelve Proposals to Add Bitcoin to State Investments Florida has pulled two proposed bills that would have allowed the state to invest in Bitcoin, effectively removing itself from the growing list of states exploring strategic crypto reserves. According to the Florida Senate, House Bill 487 and Senate Bill 550 were “indefinitely postponed and withdrawn […]<\/p>\n","protected":false},"author":5,"featured_media":13868,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,2,43,40],"tags":[],"class_list":{"0":"post-14474","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-featured","9":"category-general-news","10":"category-regulation"},"acf":[],"yoast_head":"\n