The US State Takes a Step Back on Bitcoin! The Bitcoin Reserve Proposal Has Been Shelved! Here are the Details

Florida has indefinitely postponed two bill proposals that would allow limited public fund investments in Bitcoin, signaling a retreat from the state’s previous momentum towards crypto adoption.

Florida, State-Level Crypto Investment Initiatives Have Put Bitcoin Reserve Bills on Hold, Signaling a Downturn

According to the official website of the Florida Legislature, House Bill 487 (HB 487) and Senate Bill 550 (SB 550) were “indefinitely postponed and withdrawn from consideration” just one day after the end of the 2025 legislative session, on May 3.

HB 487 and SB 550, both presented in February, were intended to make Florida one of the first states to pursue such a policy by allowing the state’s Chief Financial Officer to invest certain public funds in Bitcoin.

Invoices have attracted the attention of crypto advocates as they potentially pave the way for Bitcoin reserve strategies at the state level.

With the withdrawal of the bill, Florida joined the growing number of states struggling to pass digital asset legislation at the state investment level.

According to Bitcoin Laws, a nonprofit organization tracking crypto regulation in the US, Florida’s comeback comes amid broader national efforts where Arizona’s SB 1374 and New Hampshire’s HB 302 have made the most progress so far.

This decline also came after Arizona Governor Katie Hobbs vetoed SB 1025 last week, which would have allowed the state’s treasurer to allocate up to 10% of the assets of retirement funds to cryptocurrencies like Bitcoin.

As interest in integrating Bitcoin into public finance strategies grows, legal and regulatory barriers continue to hinder these initiatives across the country.