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- Florida’s decision follows a broader trend of legislative setbacks for proposals to create bitcoin reserves.
- Similar bills have been postponed or blocked in states such as Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota.
- Only 19 U.S. states are still actively considering legislation related to state bitcoin reserves.
Florida has withdrawn two key bills aimed at establishing a state-level strategic bitcoin reserve (BTC), marking a significant pause in state-led efforts to invest public funds in cryptocurrencies in the United States.
House Bill 487 and Senate Bill 550, both introduced in February 2025, have been “indefinitely postponed and withdrawn from further consideration,” according to the Florida Senate website.
Both measures would have authorized the use of public funds to invest in Bitcoin, signaling a potential shift in how state reserves might be managed. With their removal, Florida becomes the latest state to step back from formal legislation to create crypto reserves.
Several states stall on BTC investment plans
Florida’s decision reflects a broader pattern of legislative failures around proposals for bitcoin reserves.
Like Florida, other states including Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota have seen similar bills delayed or blocked. Many of these initiatives remain stalled in committee stages, and only a few advanced far enough to secure full legislative approval.
Arizona made the most progress earlier this year with Senate Bill 1025, which passed the state House before being vetoed by Governor Katie Hobbs. That bill would have allowed seized state funds to be invested in Bitcoin, representing one of the most advanced attempts at institutional adoption of BTC at the state level.
Despite the veto of SB 1025, Arizona is still considering SB 1373, a separate proposal that would permit allocating up to 10% of certain state funds to digital assets, including Bitcoin. That bill has not yet reached a final vote, and its future remains uncertain amid growing legislative caution.
Is bitcoin legislation losing momentum nationwide?
According to data tracked by Bitcoin Laws, only 19 U.S. states continue to actively consider legislation related to state bitcoin reserves (SBR), with 36 bills currently under discussion. That number has fallen markedly over the past six months, reflecting increasing legislative hesitation driven by market volatility, fiscal risk concerns, and regulatory uncertainty.
Much of the retreat has been attributed to worries similar to those voiced by Arizona Governor Katie Hobbs, who pointed to the lack of long-term historical data supporting Bitcoin’s stability or reliability for managing public funds.
Despite the slowdown at the state level, conversations about bitcoin reserves at the federal level are gaining traction. Reports indicate that President Donald Trump signed an executive order directing agencies to study the feasibility of a national bitcoin reserve system.
However, skepticism remains. Industry voices have noted it may be unlikely for the U.S. to meaningfully expand public holdings of cryptocurrencies in the near term, citing entrenched financial conservatism within institutions and broader cultural resistance to Bitcoin.