Florida Joins Growing List of States Knocking Back Bitcoin Reserve Bills

Florida’s attempt to back its treasury with Bitcoin has fizzled.Two bills, Both were “indefinitely postponed and withdrawn from consideration,” ending Florida’s crypto reserve effort without a vote on either floor.The failure places Florida alongside a group of states that have recently rejected or abandoned efforts to establish strategic Bitcoin reserves, despite heightened national attention on the policy since President Donald Trump’s Arizona, Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming have all rejected crypto treasury legislation this year, many of them after bills had In some cases, like Arizona, legislation cleared both chambers before Governor Katie Hobbs blocked Arizona’s SB 1025 last week, calling it an inappropriate risk for pension systems. “Retirement funds are not the place to experiment with untested assets,” she wrote at the time.The bill’s co-sponsor, Senator Wendy Rogers, was quick to condemn the decision and has already vowed to bring the bill back next session, saying, “Arizona needs Bitcoin.”“If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill for this already proven (16 years!) innovation that will protect our wealth,” Rogers Arizona, which led the legislative pack, still has a separate bill, In Oklahoma, a strategic reserve bill passed one committee by a wide margin but was Senator Christi Gillespie flipped to a “yes” vote after hearing from constituents, but the bill failed anyway. South Dakota’s HB 1202 was rejected in February in a 9–3 vote, with lawmakers expressing concerns about Bitcoin’s volatility. Montana’s House Bill 429, meanwhile, was defeated days earlier in a 59–41 floor vote despite being framed as a diversification strategy. North Dakota’s HB 1184 met a similar fate, falling short in February by 57–32.The legislative setback in Pennsylvania came without drama; the crypto investment bill introduced in late 2024 never advanced. Wyoming’s effort was also voted down in committee, with just one lawmaker supporting it.Even Utah, considered an early frontrunner, That’s a sharp turn from just weeks ago, when more than 45 Bitcoin reserve bills had been introduced in over two dozen states. As of early May, only 36 remain active in 19 states, according to Texas and New Hampshire remain the most viable contenders, with both states’ legislatures advancing their Bitcoin reserve proposals.With legislative calendars closing, many of the remaining proposals are now racing against the clock. Others, like Rogers’, are preparing for round two.Edited by Sebastian Sinclair