Florida Drops Bitcoin Strategic Reserve Bills
Both bills, introduced in February, sought to allow public funds to be invested in BTC.
Jamie Crowley | Edited by Parikshit Mishra May 6, 2025, 9:23 AM
Key points:
- Florida has killed two bills that would have created a statewide Bitcoin strategic reserve.
- House Bill 487 and Senate Bill 550 have been “indefinitely postponed and withdrawn from debate.”
- Florida joins a host of other states, such as Wyoming, Pennsylvania, and Oklahoma, where bills related to BTC investments have failed to pass the legislative process.
Florida has killed two bills that would have created a state-level Bitcoin (BTC) strategic reserve.
House Bill 487 and Senate Bill 550 have been “indefinitely postponed and withdrawn from debate,” according to the state Senate website. Both bills, filed in February, sought to allow public funds to be invested in BTC.
Florida joins a host of other states, such as Wyoming, Pennsylvania, and Oklahoma, where bills related to BTC investment have failed to advance through the legislative process, according to Bitcoin Laws. There are other states with pending bills, too, most of which remain in early committee stages.
The most advanced state-level effort to create a BTC reserve occurred in Arizona, where SB 1025 passed the House of Representatives by a 31-25 vote but was vetoed by Governor Katie Hobbs. The bill proposed allowing seized funds to be invested in BTC.
There is also a bill, SB 1373, that would allow up to 10% of Arizona's public funds to go to digital assets. This bill has not yet been brought up for a final vote.
Read more: Swiss National Bank rejects calls to increase Bitcoin reserves
