Florida has withdrawn two bills linked to the creation of a Bitcoin Strategic Reserve (BTC) at the state level.
Bill 487 of the Chamber and Bill 550 of the Senate were “reported indefinitely and withdrawn from consideration”, according to the State Senate website. The two bills, which were both submitted in February, sought to allow the investment of public funds in BTC.
Florida joins many other states, such as Wyoming, Pennsylvania and Oklahoma, which have seen bills linked to BTC investments fail to erase the legislative process, according to Bitcoin laws. There are a series of other states with unanswered bills, most of which remain in the initial phase of the committee.
The process at the most advanced state level to establish a BTC reserve was in Arizona, where SB 1025 adopted a vote of the Chamber of 31-25 to be opposed to his veto by Governor Katie Hobbs. The bill proposed to allow the investment of funds seized in BTC.
There remains the SB 1373 related, which would allow 10% of Arizona’s state funds to be allocated to digital assets. This bill has not yet reached a final vote.
Read more: The Swiss National Bank rejects calls to add Bitcoin reserves
