- Florida’s withdrawal from Bitcoin bills highlights nationwide hesitation to integrate digital assets into public treasury portfolios.
- Arizona advances crypto legislation despite setbacks, with HB 2749 offering a budget-neutral path to a Bitcoin state reserve fund.
- Multiple U.S. states continue to see crypto reserve bills fail, underscoring growing caution despite Bitcoin’s rising market legitimacy.
Florida has loofficially withdrawn its Bitcoin Reserve Bills, HB 487 and SB 550, after its 2025 legislative session adjourned on May 2 without passing either proposal. This move removes Florida from the growing but struggling list of U.S. states attempting to adopt digital assets into public finance strategies. Consequently, efforts to diversify state-managed funds through Bitcoin investment have stalled. The legislature chose to prioritize other bills, leaving the Bitcoin proposals indefinitely postponed.
The two bills, introduced in February, sought to allow the state to invest up to 10% of select funds in Bitcoin. HB 487 targeted funds managed by the Chief Financial Officer and the State Board of Administration. SB 550 mirrored this goal, focusing on authorizing public fund investments in Bitcoin. However, both failed to gain traction as the session wrapped up. Lawmakers did extend the session to June 6—but only to finalize budget matters, not crypto legislation.
Broader Trend of Bitcoin Bill Failures
Florida now joins other states like Wyoming, South Dakota, and Montana, all of which have seen similar Bitcoin bills collapse. According to Bitcoin Laws, multiple attempts to pass crypto reserve initiatives have failed in recent months. Significantly, this trend signals broader skepticism toward integrating digital assets into government portfolios. Legislators across the U.S. appear cautious despite Bitcoin’s increasing legitimacy in global markets.
Meanwhile, Arizona nearly took the lead by pushing its House Bill 1025 further than any other state to date. The bill would have enabled the state to invest seized funds in Bitcoin through a managed reserve. However, Governor Katie Hobbs vetoed the bill on May 3, calling digital assets “untested investments.” The decision disappointed crypto advocates and figures like Anthony Pompliano, who criticized the veto as shortsighted.
Arizona Still in the Running
Despite the setback, Arizona still has two Bitcoin-related bills in circulation. HB 2749, the more promising of the two, proposes a budget-neutral reserve funded by profits from unclaimed property. Additionally, SB 1373 could allow the state treasurer to allocate up to 10% of state funds into digital assets. Both bills remain under consideration and may soon come to a vote.
