Florida has completely shut down its push to allow state-level Bitcoin investments, killing off two key bills that were supposed to make it happen.
On May 3, both House Bill 487 and Senate Bill 550 were officially labeled “indefinitely postponed and withdrawn from consideration” by the state legislature, ending their run before any real debate or vote could happen.
The two bills were introduced in February. HB 487 would have allowed the state’s Chief Financial Officer to invest public funds in Bitcoin. SB 550 proposed the same thing. The Florida legislature ended its 2025 session on May 2 without even touching them. That left the bills to die quietly.
Florida steps away as other states push forward
Bitcoin Laws, a research group focused on crypto legislation, posted on X, “HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration.’”
Other states are still moving fast though. Arizona and New Hampshire are the furthest along. In Arizona, lawmakers tried to pass SB 1025, which would’ve let the state’s treasurer and retirement funds invest up to 10% of their holdings in Bitcoin or similar assets.
Governor Katie Hobbs vetoed the bill last week. Meanwhile, New Hampshire’s HB 302 is still alive and progressing.
On the federal level, the conversation around Bitcoin reserves isn’t dead all the way. President Donald Trump, who signed an executive order on March 6, tasked Treasury Secretary Scott Bessent with laying the foundation for a ‘Strategic Bitcoin Reserve.’
Scott was required to submit an evaluation report on Monday, outlining how to manage the reserve, which custodial accounts would be used, and whether new laws were needed to make it work. As of now, there’s been no public confirmation that the evaluation was submitted. There’s also no public detail on how any of the reserve infrastructure would actually function.
Trump’s executive order also gave federal agencies a 30-day deadline from March 6 to decide whether they had the authority to transfer any seized crypto into the custody of the Treasury Department. Each agency had to file a report. None of these reports have been released. Nothing has been said officially.
Despite all the dead bills and silence from federal agencies, the push for Bitcoin-related legislation is still huge across the country. At the moment, there are 130 active proposals. Of those, 46 directly relate to Trump’s Strategic Bitcoin Reserve idea. Another 39 efforts are focused on setting up live crypto reserves in 20 different states.
But of course none of those 130 proposals include Florida anymore. The state had its shot. It bailed.
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