Florida’s Bitcoin Reserve Bills Flatline in Committee—Another Crypto Dream Meets Political Reality

Florida’s bold push to become a Bitcoin reserve state just hit a brick wall. Two bills that would’ve allowed state funds to hold BTC died quietly in committee—proof that even the sunshine state can’t escape regulatory shadows.

No moon, just paperwork: The proposals barely got a hearing before getting shelved. So much for Florida’s ’crypto haven’ ambitions—turns out politicians still prefer stacking dollars, not sats.

Bonus jab: Meanwhile, Wall Street’s rolling out the red carpet for Bitcoin ETFs. Guess institutional adoption only counts when the fees are juicier.

Florida’s Bitcoin Reserve Proposals Fail

Since President Trump first committed to the US Strategic Bitcoin Reserve, several state governments have been pushing their own proposals.

One such Reserve bill in Florida unanimously passed through its first Subcommittee vote less than a month ago, building a sense of momentum. However, these bills were withdrawn today, marking a real defeat.

“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 HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration,’” claimed a crypto policy watchdog.

Technically, Florida’s Bitcoin Reserve bills accumulated bipartisan support in their first appearance. This is a critically useful tool for passing crypto-friendly regulation, but Florida’s support was fragile.

Their sponsor, Webster Barnaby, faced overwhelming skepticism at the time. Although he convinced them on the day, his words didn’t carry far.

Unfortunately, Florida is not the only state-level Bitcoin Reserve that has faced recent setbacks. Arizona’s state legislature comfortably passed two such bills in late April, but Governor Katie Hobbs vetoed one of them.

The other might stand a better chance of receiving approval, but there’s no definite way to know. The main difference between the two involves funding.

State Reserve Race Update:

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HB 487 and SB 550 have been "indefinitely postponed and withdrawn from consideration."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

As Florida’s Bitcoin Reserve bills quietly died in committee, it’s difficult to analyze a definite reason for their failure. Many state-level bills have been plagued by concern from fiscal conservatives unwilling to invest tax dollars in cryptocurrency.

This belief certainly has bipartisan buy-in; it’s been a feature of questions in Florida, the veto in Arizona, and other failures nationwide.

There are still a few active proposals, but their future is looking increasingly uncertain. The most hopeful prospect, in Utah, did technically become law, but only after shedding all mention of a Bitcoin Reserve.

Utah passed Bitcoin-friendly regulation, but refused this more ambitious task. If these failures continue, it may blunt momentum nationwide.