Florida Bails on Bitcoin Reserve Push as National Efforts Accelerate

Florida has permanently withdrawn its Bitcoin reserve bills, HB 487 and SB 550, leaving the state out of the growing national crypto reserve movement.
In a definitive move, Florida has withdrawn entirely from efforts to establish Bitcoin reserves, formally abandoning two proposed bills—House Bill 487 and Senate Bill 550—that aimed to authorize state-level Bitcoin investments.

Both bills, which were introduced in February 2025, were officially marked on May 3 as “indefinitely postponed and withdrawn from consideration” by Florida’s legislature. Neither bill advanced to a floor debate, and the state’s legislative session quietly closed on May 2 without touching them.

No Sunshine for Satoshis in Florida
House Bill 487 had proposed giving Florida’s Chief Financial Officer the authority to invest state-held funds into Bitcoin, while Senate Bill 550 echoed the same objective. Their swift dismissal leaves Florida on the sidelines just as other states and the federal government ramp up efforts to explore or implement crypto reserve strategies.

Bitcoin-focused legal research group Bitcoin Laws posted on X, stating, “HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration.’” The post underlines how Florida has decisively exited the crypto legislation stage—for now.

States Diverge: Arizona Vetoed, New Hampshire Advances
While Florida steps back, other states remain active in the legislative race. In Arizona, SB 1025—allowing up to 10% of state treasury and retirement funds to be allocated to Bitcoin—was vetoed by Governor Katie Hobbs last week. Meanwhile, New Hampshire’s HB 302 is still progressing through legislative channels, showing there’s still momentum behind state-level Bitcoin investments.

Trump’s Federal Push: Momentum Amid Silence
Nationally, the conversation around Bitcoin reserves remains alive. President Donald Trump’s executive order from March 6 tasked Treasury Secretary Scott Bessent with outlining a framework for a Strategic Bitcoin Reserve. Bessent’s report was due May 5, though no confirmation of its submission or content has been released.

That same executive order required federal agencies to determine within 30 days whether they could transfer any seized cryptocurrency into Treasury custody. Yet again, no public reports or official statements have followed.

130 Proposals Across the U.S.—But Florida’s Not One
Despite Florida’s withdrawal, interest in crypto reserve legislation continues to climb nationwide. There are currently 130 active proposals across the country. Of those, 46 are directly linked to Trump’s Strategic Bitcoin Reserve concept, and 39 proposals involve the creation of crypto reserves in 20 different states.

Florida had its opportunity to take part in shaping a decentralized financial future—and chose to walk away. Whether this was a prudent decision or a missed chance remains to be seen.

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