The state of Florida has indefinitely withdrawn two strategic bill proposals that would allow for Bitcoin investment from public funds if approved.
According to the official website of the Florida State Legislature, House Bill 487 (HB 487) and Senate Bill 550 (SB 550) have been "indefinitely postponed and withdrawn from consideration" as of May 3.
The HB 487 bill presented in February proposed to grant the state's financial officer the authority to invest certain public funds in Bitcoin. SB 550 was another legislative proposal containing similar regulations that came up during the same period.
According to a statement made by the Bitcoin legislation research organization Bitcoin Laws on their X account, "The state assembly completed the 2025 legislative session on May 2, and the relevant bills fell off the agenda before becoming law."
With this development, Florida seems to have stepped back from its initiative to introduce state-level investment legislation for cryptocurrencies. On the other hand, Arizona and New Hampshire have made the most progress nationally with similar legislative proposals. Arizona SB 1374 and New Hampshire HB 302 bills are still on the agenda.
However, last week, Arizona Governor Katie Hobbs vetoed the SB 1025 bill, which would allow the state treasury and pension funds to invest up to 10% of their assets in cryptocurrencies, primarily Bitcoin.
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The Bitcoin reserve move in Florida has fallen through.
The state of Florida has indefinitely withdrawn two strategic bill proposals that would allow for Bitcoin investment from public funds if approved.
According to the official website of the Florida State Legislature, House Bill 487 (HB 487) and Senate Bill 550 (SB 550) have been "indefinitely postponed and withdrawn from consideration" as of May 3.
The HB 487 bill presented in February proposed to grant the state's financial officer the authority to invest certain public funds in Bitcoin. SB 550 was another legislative proposal containing similar regulations that came up during the same period.
According to a statement made by the Bitcoin legislation research organization Bitcoin Laws on their X account, "The state assembly completed the 2025 legislative session on May 2, and the relevant bills fell off the agenda before becoming law."
With this development, Florida seems to have stepped back from its initiative to introduce state-level investment legislation for cryptocurrencies. On the other hand, Arizona and New Hampshire have made the most progress nationally with similar legislative proposals. Arizona SB 1374 and New Hampshire HB 302 bills are still on the agenda.
However, last week, Arizona Governor Katie Hobbs vetoed the SB 1025 bill, which would allow the state treasury and pension funds to invest up to 10% of their assets in cryptocurrencies, primarily Bitcoin.
Published: May 6, 2025 13:37