Florida Lawmakers Withdraw Bitcoin Reserve Proposals, Ending Strategic Reserve Effort
Florida lawmakers have pulled both of the state’s Bitcoin Reserve proposals—HB 487 and SB 550—ending efforts to launch a Strategic Bitcoin Reserve. The state legislature closed its 2025 session on May 2 without passing either bill.
The proposals aimed to follow the national discussion around a U.S. Strategic Bitcoin Reserve. HB 487 had passed its first Subcommittee vote unanimously, creating early momentum. Still, the bills were later “indefinitely postponed and withdrawn from consideration,” according to a crypto policy watchdog.
The sponsor, Representative Webster Barnaby, presented the proposals with bipartisan support. However, growing concerns during committee discussions stalled their progress. Barnaby managed to convince committee members early on, but the support did not continue through the session.
The failure of these Florida Bitcoin Reserve bills marks a halt to one of the state-level attempts to join the broader national debate on state-held digital assets.
Arizona Bitcoin Reserve Bill Also Blocked
Florida’s setback comes days after Arizona experienced a similar outcome. Arizona lawmakers passed two Bitcoin Reserve bills in April 2025. Governor Katie Hobbs vetoed one of them, raising concerns about funding structure and risk. The second Arizona Bitcoin Reserve bill remains active, but its status is unclear.
The difference between the two Arizona bills lies in the funding source. One used general revenue, while the other included an alternative structure. Hobbs did not comment in detail, but her veto indicates hesitation around allocating public funds to crypto assets.
Arizona’s Bitcoin Reserve proposals had also passed with legislative support. However, as with Florida, financial risk concerns became a key issue. These concerns have repeatedly surfaced in debates around state-level crypto legislation.
Across several U.S. states, officials have flagged cryptocurrency’s price volatility as a reason not to invest state funds. This trend has continued in recent legislative sessions.
Utah Passes Bitcoin Law Without Reserve Language
Utah passed a Bitcoin-related law during the same period, but it removed all language connected to a Bitcoin Reserve. Lawmakers instead supported a broader digital asset bill that avoids holding crypto as a reserve.
The Utah Bitcoin bill does not authorize the state to buy or store Bitcoin. Instead, it focuses on policies that allow blockchain use within state operations. This measured approach reflects the cautious path seen in other states.
Utah’s decision shows that while digital asset laws may gain support, including Strategic Bitcoin Reserve measures complicates approval. Legislators often remove reserve provisions to avoid opposition tied to fiscal risk.