Key Takeaways:
- Florida has withdrawn House Bill 487 and Senate Bill 550, ending efforts to create a state-level Bitcoin reserve.
- The bills aimed to allow investment of up to 10% of certain public funds in Bitcoin but did not progress before the legislative session ended.
- Florida joins several other U.S. states where Bitcoin-related legislative proposals have stalled.
Florida has withdrawn its proposed Bitcoin reserve bills, marking a pause in state-level crypto adoption efforts.
On May 3, both House Bill 487 and Senate Bill 550 were indefinitely postponed and withdrawn, despite the legislative session being extended until June 6.
🇺🇸 State Reserve Race Update:
— Bitcoin Laws (@Bitcoin_Laws) May 5, 2025
Both Florida's Bitcoin Reserve Bills have failed.
The legislature adjourned its 2025 session on May 2, without passage of the bills.
HB 487 and SB 550 have been "indefinitely postponed and withdrawn from consideration." pic.twitter.com/9TslaU80JW
These bills aimed to allow up to 10% of select state funds to be invested in Bitcoin, empowering Florida’s chief financial officer and the State Board of Administration to manage such allocations.
Although over 230 other bills passed—including laws on smartphone bans in schools, state park regulations, and fluoride limits—crypto-related initiatives were left behind.
HB 487, introduced in February, and its companion SB 550 both failed to gain enough support to move forward.
This withdrawal places Florida among other states like Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma, where similar Bitcoin reserve proposals have also stalled or failed.
The decision highlights the ongoing hesitation among U.S. states to incorporate Bitcoin into public financial strategies, despite growing interest in digital assets.
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