From Cointelegraph
May 6, 2025 12:24 am:

Two Florida crypto bills, HB 487 and SB 550, have been removed from legislative consideration on May 3. These bills aimed to establish a crypto reserve for the state but were not passed before the legislative session adjourned on May 2. Florida joins other states like Wyoming and Oklahoma in failing to pass Bitcoin investment legislation.

HB 487 would have allowed Florida’s chief financial officer to invest up to 10% of certain state funds into Bitcoin. SB 550 aimed to enable investments of public funds in Bitcoin. However, both bills have been withdrawn from consideration, leading Florida to drop out of the race for state-level crypto investment legislation.

Arizona recently advanced a strategic Bitcoin reserve bill further than any other state with House Bill 1025. However, Governor Katie Hobbs vetoed the bill on May 3, calling digital assets “untested investments.” Arizona now has two more chances to pass Bitcoin investment legislation and establish a Bitcoin reserve, with bills like HB 2749 offering a budget-neutral funding method.

There is another related bill, SB 1373, in Arizona that would authorize the state treasurer to allocate up to 10% of state funds into digital assets. This bill has yet to reach a final vote, but Arizona remains in the race to become the first state to establish a Bitcoin reserve.

Read more at Cointelegraph: Florida takes strategic Bitcoin reserve bills off the table