Key Takeaways
- Florida has withdrawn HB 487 and SB 550, which proposed bitcoin investments from public funds.
- Both bills were filed in February but did not pass before the legislature adjourned on May 2.
- Other states like Arizona and New Hampshire continue to advance similar proposals.
Florida has indefinitely postponed two proposed bills that would have authorized investment of certain public funds into bitcoin.
According to the state legislature’s website, House Bill 487 and Senate Bill 550, both introduced in February, were marked on May 3 as…
… indefinitely postponed and withdrawn from consideration.
Details of the bills
HB 487 would have given Florida’s chief financial officer authority to allocate public funds to bitcoin investments. SB 550 proposed similar measures.
Neither bill passed before the Florida Legislature adjourned its 2025 session on May 2.
Confirmation of the bills’ status
Bitcoin Laws, a legislation tracking group, confirmed the bills’ failure in a May 5 post on X, stating that the session ended without either measure advancing.
🇺🇸 State Reserve Race Update:
— Bitcoin Laws (@Bitcoin_Laws) May 5, 2025
Both Florida's Bitcoin Reserve Bills have failed.
The legislature adjourned its 2025 session on May 2, without passage of the bills.
HB 487 and SB 550 have been "indefinitely postponed and withdrawn from consideration." pic.twitter.com/9TslaU80JW
Comparison with other states
The decision marks a pause in Florida’s exploration of state-level bitcoin investment strategies.
With the withdrawal, Florida steps back from joining states like Arizona and New Hampshire, where similar legislation has seen more progress.
Arizona’s SB 1374 and New Hampshire’s HB 302 remain active.
Challenges in other states
However, not all efforts are succeeding.
Arizona Governor Katie Hobbs recently vetoed SB 1025, which would have permitted up to 10% of the state’s treasury and retirement systems to be allocated to bitcoin.
Conclusion
The indefinite postponement of Florida’s bills reflects ongoing caution among U.S. states when it comes to direct government-level involvement with bitcoin.
