Share this article
Florida Withdraws Strategic Bitcoin Reserve Bills From Consideration
The two bills, which were both filed in February, sought to allow investment of public funds in BTC
May 6, 2025, 9:23 a.m. 1 min read
What to know:
- Florida has withdrawn two bills related to the creation of a state-level strategic bitcoin reserve.
- House Bill 487 and Senate Bill 550 have been "indefinitely postponed and withdrawn from consideration."
- Florida joins numerous other states, such as Wyoming, Pennsylvania and Oklahoma, which have seen bills related to BTC investments fail to clear the legislative process.
Florida has withdrawn two bills related to the creation of a state-level strategic bitcoin reserve.
House Bill 487 and Senate Bill 550 have been "indefinitely postponed and withdrawn from consideration," according to the state Senate website. The two bills, which were both filed in February, sought to allow investment of public funds in BTC.
Florida joins numerous other states, such as Wyoming, Pennsylvania and Oklahoma, which have seen bills related to BTC investments fail to clear the legislative process, according to Bitcoin Laws. There are a string of other states with outstanding bills, most of which remain in the initial committee phase.
The most advanced state-level process to establishing a BTC reserve was in Arizona, where SB 1025 passed a House vote by 31-25 only to be vetoed by Governor Katie Hobbs. The bill proposed permitting the investment of seized funds into BTC.
There remains the related SB 1373, which would allow up to 10% of Arizona state funds to be allocated into digital assets. This bill has yet to reach a final vote.
Read More: Swiss National Bank Rejects Calls to Add Bitcoin Reserves
Plus pour vous
‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate
JPMorgan CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned the current CLARITY Act framework could ultimately fail, as banks and crypto firms clash over whether stablecoin issuers should be allowed to offer yield-bearing rewards that resemble bank deposits.
Ce qu'il:
- JPMorgan Chase CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned that the latest CLARITY Act draft could fail if lawmakers do not address banks’ concerns over stablecoin regulation on Friday.
- Dimon argued that the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, predicting...
Top Stories
