Florida Halts Legislation on Cryptocurrency Reserves

According to Odaily, Florida's House Bill 487 and Senate Bill 550, which aimed to allow the state to invest up to 10% of its funds in Bitcoin to establish a strategic cryptocurrency reserve, have been indefinitely postponed and withdrawn from consideration. This decision came as the Florida legislature adjourned on May 2 without advancing the proposed legislation. With this development, Florida joins Wyoming, North and South Dakota, Pennsylvania, Montana, and Oklahoma as the latest states to exit the legislative race due to the failure of similar bills. Meanwhile, Arizona continues to hold two related bills, HB 2749 and SB 1373. HB 2749 proposes using profits from unclaimed property funds to provide budget-neutral support for Bitcoin reserves, while SB 1373 seeks to authorize the state treasurer to allocate up to 10% of state funds to digital assets.