$Some bills have successfully passed, establishing a framework for state-level crypto reserves, but many others have not succeeded. Let's take a look at which states have rejected Bitcoin reserve bills.
Florida
In early May, the Sunshine State of Florida postponed and withdrew two bills aimed at incorporating Bitcoin into state finances.
Oklahoma
On April 16, the Oklahoma Senate Finance and Taxation Committee voted 6 to 5 against HB 1203, the Strategic Bitcoin Reserve Act, marking a failed attempt by the state to establish a Bitcoin reserve.
Utah
Although the state's bill was not voted down or defeated, Utah's plan to establish a strategic Bitcoin reserve fell through in March when a provision that could have allowed the state to create a reserve was removed from a blockchain bill.
New Mexico
New Mexico's SB 275, which aimed to invest 5% of state funds in Bitcoin, was submitted to the Senate Tax, Business, and Transportation Committee in early February but was shelved.
Montana
Montana's Bitcoin reserve proposal, House Bill 429, has faced setbacks since being introduced in late January.
South Dakota
South Dakota's HB 1202 proposal suggested investing up to 10% of the state's public funds in Bitcoin, but was defeated on February 24 with a vote of 9 against and 3 in favor in the House Commerce and Energy Committee.
North Dakota
North Dakota's proposal HB 1184 aimed to explore the feasibility of establishing a Bitcoin reserve but failed to pass in the House with a vote of 57 against and 32 in favor.
Pennsylvania
Pennsylvania's HB 2664 proposed investing up to 10% of state funds in Bitcoin, but the bill was ultimately defeated.
Wyoming
A bill introduced in Wyoming in mid-January was defeated by the state committee on February 6, with legislative records showing that only one of the eight lawmakers supported the initiative.
Arizona
Arizona's 'Arizona Strategic Bitcoin Reserve Act' (SB 1025) made its way to Governor Katie Hobbs' desk but ultimately failed, as Katie Hobbs vetoed the bill in early May.
