Florida Congress has withdrawn bills to create a BTC reserve from consideration

They will not be voted on during the current legislative session

06.05.2025 - 09:30

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What’s new? The Florida Congress has withdrawn two cryptocurrency bills from consideration, which were aimed at creating a cryptocurrency reserve at the state level. For example, House Bill 487, introduced in February, would have allowed authorities to invest up to 10% of certain budget funds in bitcoin. Senate Bill 550, introduced in the same month, would also enable the first cryptocurrency to be accepted as a means of payment for taxes and fees.

Material by Cointelegraph

What else is known? Florida has thus dropped out of the race for state-level crypto investment legislation, along with Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma, where similar bills have not been approved in the House or Senate.

Montana House of Representatives voted against the creation of a BTC reserve

Most lawmakers said there was a risk of speculation with taxpayer funds

Arizona, for its part, came close to creating a bitcoin reserve a few days earlier, as the relevant bill 1025 was approved by the local House of Representatives. However, Governor Katie Hobbs later vetoed it, calling digital assets “untested investments.”

The decision drew criticism from the crypto community, with lobbying organization Satoshi Action Fund noting that Arizona could still become the first state with its own bitcoin reserve.

At the local level, for example, House Bill 2749 proposes a budget-neutral method of funding the reserve, and Senate Document 1373, which would authorize the state treasurer to allocate up to 10% of state funds to digital assets. They have yet to take a final vote.

Last month, the Swiss Central Bank criticized the idea of a BTC reserve because of liquidity and volatility risks. The regulator argues that the first cryptocurrency does not meet the criteria for inclusion in the country’s foreign exchange reserves.

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