Florida has pulled the plug on two bills that would have created a state-level strategic bitcoin reserve. House Bill 487 and Senate Bill 550 have been taken off the table, according to the state Senate website. The bills, filed in February, sought to permit the investment of public funds in bitcoin. Florida joins a growing list of states, including Wyoming, Pennsylvania, and Oklahoma, where similar bills have stalled in the legislative process.
Several other states have pending bills, mostly still in the initial stages. Arizona made the most headway with a state-level bitcoin reserve, but its bill was vetoed by Governor Katie Hobbs after passing a House vote.
Another Arizona bill, which would allow up to 10% of state funds to be invested in digital assets, is still pending a final vote.