Florida traces Bitcoin reserve plans because national politics remains in the floating

Florida has tacitly withdrawn two draft laws that would have allowed the state to keep Bitcoin as part of his strategy for public finances. This braks the dynamic, which was once considered a brave step towards the introduction of cryptocurrencies at the state level.

The beginning of the year presented Law draft “House Bill 487” and “Senate Bill 550” provided for Florida's tax authorities to invest part of the state -managed assets in Bitcoin – in certain cases up to 10%. Despite the initial interest, both suggestions have now been put up for an indefinite period without a clear schedule for a new exam. With this decision, all attempts to build a state Bitcoin reserve are put on hold for the time being.

Florida's withdrawal follows a broader trend in the United States, where several states have either postponed or rejected similar laws. The efforts in Pennsylvania, Montana, Oklahoma and the Dakotas have stalled, and even in Arizona, where support had formed, Governor Katie rejected an important law on May 3 and described crypto assets as “unexpected” and described it unsuitable for public funds.

So far, the only noteworthy exception is the city of Roswell, which recently set up a local Bitcoin reserve as the first city in the country.

Meanwhile, the whole country is waiting for clarity from the federal government. US Finance Minister Scott Bessent was to submit a report on a nationwide Bitcoin reserves strategy in March 2025. Although the deadline has expired on May 5, there is no public information yet. The report is intended to explain in detail how such reserves could be managed, which legal adjustments would be required and whether Bitcoin is suitable for inclusion in the overall economic bill.

Since Bitcoin is currently being traded at almost $ 94,000, any approval of the Ministry of Finance could have a significant impact on the market – possibly even new record heights for the asset.