Florida Pulls Plug on Bitcoin Reserve Plan as Regulatory Headwinds Intensify

Sunshine State retreats from crypto ambitions amid nationwide regulatory crackdown—just as Wall Street starts pretending to care about ’blockchain innovation.’

Florida’s failed Bitcoin play highlights the growing disconnect between political crypto cheerleading and real-world adoption hurdles. Another day, another ’future of finance’ delayed by bureaucracy.

Is Bitcoin’s reserve bill momentum slowing?

Florida’s retreat follows Arizona Governor Katie Hobbs’ high-profile veto of a similar proposal.

Hobbs cited the absence of reliable historical data on Bitcoin’s performance as the reason for rejecting what was then the most advanced SBR bill in the nation.

The retreat in Florida now adds to a broader slowdown across the country. So far, at least eight states, including Arizona, Montana, North Dakota, Oklahoma, Pennsylvania, South Dakota, and Wyoming, have paused or abandoned similar initiatives.

Nationwide, the number of states actively considering SBR-related legislation has dropped to 19, with 36 bills still under discussion. These proposals aim to reshape how states manage long-term reserves by including decentralized digital assets like Bitcoin.

Meanwhile, efforts for the initiative continue at the federal level. President Donald Trump has signed an executive order directing the development of a national Bitcoin reserve.

However, some industry experts remain skeptical of the plan. BitMEX co-founder Arthur Hayes argued the US is unlikely to expand its holdings due to fiscal concerns and lingering biases against Bitcoin culture.