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Bitcoin Reserve Bills Face Setbacks as Florida Joins Growing List of Rejecting States
By: crypto news australia|2025/05/07 12:15:01
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Florida rejected two Bitcoin reserve bills (HB 487 and SB 550), joining at least eight other states that declined similar proposals in 2025Both bills aimed to allow public fund allocations into Bitcoin but failed to advance before the legislative session closed.New Hampshire remains the only state to pass such legislation, with bipartisan resistance elsewhere despite Trump’s federal-level pro-Bitcoin stance.Florida is saying no to two bills that would have 10% of the state’s public funds to be invested in Bitcoin (BTC). According to the state legislature’s website, House Bill 487 and Senate Bill 550 were “indefinitely postponed and withdrawn from consideration” on May 3.Both measures were introduced in February. HB 487 would have authorised the state’s chief financial officer to allocate public funds to Bitcoin, with SB 550 proposing similar authority. The Florida legislature closed its 2025 session on May 2 without advancing either bill.A Growing List of States Rejecting Bitcoin ReservesA similar situation took place in Arizona, in which Democratic Governor Katie Hobbs vetoed a senate bill that would have allowed the state to adopt a State Bitcoin Reserve, as Crypto News Australia reported.Moreover, at least seven states have abandoned or rejected Bitcoin reserve legislation. Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania and Wyoming all saw similar efforts fail this year. Not only democrats have opposed using state funds to invest in Bitcoin, republican lawmakers too. In any case, parts of both sides stand in contrast with Trump and his move to create an official Bitcoin reserve.The only exception so far has been New Hampshire, with Governor Ayotte signing HB 302 into law this morning, according to the New Hampshire House of Representatives (Republicans). New Hampshire is OFFICIALLY the first state to lay the groundwork for a strategic bitcoin reserve. The Live Free or Die state is leading the way in forging the future of commerce and digital assets. Governor Kelly Ayotte Related: Arthur Hayes Says US Unlikely to Boost Bitcoin Reserves Amid Debt and Image ConcernsThe post Bitcoin Reserve Bills Face Setbacks as Florida Joins Growing List of Rejecting States appeared first on Crypto News Australia.
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