Key Takeaways
- Florida has withdrawn HB 487 and SB 550, which proposed bitcoin investments from public funds.
- Each payments had been filed in February however didn’t move earlier than the legislature adjourned on Could 2.
- Different states like Arizona and New Hampshire proceed to advance comparable proposals.
Florida has indefinitely postponed two proposed payments that will have approved funding of sure public funds into bitcoin.
In response to the state legislature’s web site, Home Invoice 487 and Senate Invoice 550, each launched in February, had been marked on Could 3 as…
… indefinitely postponed and withdrawn from consideration.
Particulars of the payments
HB 487 would have given Florida’s chief monetary officer authority to allocate public funds to bitcoin investments. SB 550 proposed comparable measures.
Neither invoice handed earlier than the Florida Legislature adjourned its 2025 session on Could 2.
Affirmation of the payments’ standing
Bitcoin Legal guidelines, a laws monitoring group, confirmed the payments’ failure in a Could 5 submit on X, stating that the session ended with out both measure advancing.
🇺🇸 State Reserve Race Replace:
Each Florida’s Bitcoin Reserve Payments have failed.
The legislature adjourned its 2025 session on Could 2, with out passage of the payments.
HB 487 and SB 550 have been “indefinitely postponed and withdrawn from consideration.” pic.twitter.com/9TslaU80JW
— Bitcoin Legal guidelines (@Bitcoin_Laws) Could 5, 2025
Comparability with different states
The choice marks a pause in Florida’s exploration of state-level bitcoin funding methods.
With the withdrawal, Florida steps again from becoming a member of states like Arizona and New Hampshire, the place comparable laws has seen extra progress.
Arizona’s SB 1374 and New Hampshire’s HB 302 stay energetic.
Challenges in different states
Nevertheless, not all efforts are succeeding.
Arizona Governor Katie Hobbs lately vetoed SB 1025, which might have permitted as much as 10% of the state’s treasury and retirement programs to be allotted to bitcoin.
Conclusion
The indefinite postponement of Florida’s payments displays ongoing warning amongst U.S. states in relation to direct government-level involvement with bitcoin.