PANews reported on May 6 that according to Cointelegraph, Florida House Bill No. 487 and Senate Bill No. 550 were "indefinitely postponed and withdrawn for consideration" on May 3. The two bills were originally planned to allow the state treasury to invest up to 10% of public funds in Bitcoin to establish a state-level crypto reserve. However, the Florida Legislature did not pass the relevant legislation before the end of the meeting on May 2, and has officially withdrawn from the state-level Bitcoin reserve bill competition. Similar bills have also failed in South Dakota, Montana and other places. In contrast, Arizona still has two related proposals pending.
Florida Strategic Bitcoin Reserve Bill Withdrawn, Withdrawing from State Crypto Legislation Race
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