Bad news has arrived!

Florida cancels strategic Bitcoin reserve bill

Florida's House Bill 487 and Senate Bill 550 were "indefinitely postponed and withdrawn from consideration" on May 3, as the Florida legislature failed to advance the cryptocurrency reserve-related legislation before adjourning on May 2. The two bills were originally intended to allow the state to invest up to 10% of certain state funds in Bitcoin (BTC) to establish a strategic cryptocurrency reserve.

As a result, Florida has joined Wyoming, North and South Dakota, Pennsylvania, Montana, and Oklahoma as the latest states to exit the legislative race due to the failure of the bills.

Meanwhile, Arizona still has two related bills (HB 2749 and SB 1373), with HB 2749 proposing to provide budget-neutral support for Bitcoin reserves using profits from unclaimed property funds, and SB 1373 proposing to authorize the state treasurer to allocate up to 10% of state funds to the digital asset sector. $BNB