Florida Withdraws Bitcoin Reserve Bills: What Happened and What Comes Next
Summary
Florida withdrew its 2025 Bitcoin reserve bills (HB 487 and SB 550) when the legislative session adjourned on May 6, but lawmakers are already exploring a revised proposal (HB 1039) for 2026, signaling continued interest rather than rejection of state-level Bitcoin adoption.
Florida lawmakers have officially withdrawn two bills—HB 487 and SB 550—that would have allowed the state to establish a strategic Bitcoin reserve, pausing what could have been a landmark move in U.S. government cryptocurrency adoption.
The decision came as Florida’s 2025 legislative session adjourned on May 6, 2025, leaving the proposals indefinitely postponed rather than voted down.
What the Florida Bitcoin Reserve Bills Proposed?
The withdrawn legislation consisted of two companion bills:
- HB 487 (Florida House)
- SB 550 (Florida Senate)
Together, they would have authorized the Florida state treasurer to acquire and hold Bitcoin as part of the state’s investment strategy, effectively creating Florida’s first state-level Bitcoin reserve.
A state Bitcoin reserve refers to a policy allowing public funds to hold Bitcoin alongside traditional assets such as cash or bonds. Supporters argue such reserves could hedge against inflation and signal openness to financial innovation, while critics point to volatility and fiduciary risk.
Timeline: From Proposal to Withdrawal
- Early 2025: HB 487 and SB 550 introduced in Florida’s House and Senate.
- Spring 2025: Bills advance through early discussions but do not reach a final floor vote.
- May 6, 2025: Florida Legislature formally adjourns its session.
- Same day: Both bills are withdrawn and indefinitely postponed, effectively ending consideration for the 2025 session.
Importantly, the withdrawal was procedural rather than a rejection on merit, meaning lawmakers can reintroduce revised versions in future sessions.
Read more: Sweden Considers Building Bitcoin Reserve to Join the Global ‘Digital Arms Race’
Why Florida Put the Bitcoin Reserve on Hold
Lawmakers and observers cited several converging factors:
- Volatility risk: Bitcoin’s price swings raised concerns about exposing public funds to large short-term losses.
- Regulatory uncertainty: Federal cryptocurrency rules remain in flux, creating hesitation at the state level.
- Custody and security: Questions persisted around how a state would securely hold and manage digital assets.
- Legislative timing: Higher-priority bills crowded the end of the session, leaving insufficient time for debate.
As reported by CoinDesk, the bills were taken “off the table” primarily due to session timing rather than outright opposition.
How Florida Compares to Other U.S. States
Florida’s pause does not mean it is alone—or falling behind.
- Texas has already moved forward with legislation enabling Bitcoin-related reserves and mining-friendly policies, positioning itself as the most aggressive U.S. state in crypto adoption.
- New Hampshire has passed laws allowing limited exposure to digital assets within public investment frameworks.
- By contrast, several other states—including Arizona and Montana—have seen similar Bitcoin reserve proposals stall or fail.
Florida’s situation reflects a broader national pattern: experimentation, caution, and gradual iteration rather than rapid adoption.
Industry Reaction: Setback or Strategic Pause?
Reaction from the cryptocurrency community has been mixed.
Analysts quoted by Decrypt described the move as a “procedural setback, not a philosophical rejection.” The fact that Florida seriously debated a Bitcoin reserve at all is viewed as evidence that digital assets are now part of mainstream policy discussions.
From an institutional perspective, the conversation itself signals growing acceptance—even if implementation remains cautious.
What’s Next: HB 1039 and a Revised Approach
Crucially, Florida lawmakers have already signaled that the idea is not dead.
For the 2026 legislative cycle, a new proposal—HB 1039—has been discussed as a successor framework. According to reporting from PYMNTS, the revised approach may include:
- Creation of a Strategic Cryptocurrency Reserve Fund
- Clearer risk management and auditing requirements
- Explicit limits on allocation (reportedly up to a fixed percentage of eligible public funds)
- Potential exposure via Bitcoin or Bitcoin-related investment vehicles, rather than direct custody alone
These changes appear designed to address the exact concerns that stalled HB 487 and SB 550.
Read more: Czech National Bank Makes Historic $1M Crypto Purchase to Test Bitcoin and Digital Asset Reserves
The Bigger Picture: What Florida’s Decision Really Signals
Florida’s withdrawal highlights the core challenge facing governments worldwide: balancing financial innovation with fiduciary responsibility.
While the 2025 Bitcoin reserve effort has stalled, the broader trend toward government-level crypto experimentation continues. Early adopters, cautious testers, and temporary retreats all contribute to shaping future policy.
For Florida, the outcome looks less like abandonment—and more like a strategic pause before a more structured return.
Source: https://www.coindesk.com/policy/2026/01/08/florida-revives-push-for-bitcoin-reserve-with-new-2026-bill
FAQs
Florida withdrew HB 487 and SB 550 when the 2025 legislative session adjourned on May 6, citing volatility risks, regulatory uncertainty, and lack of time for a final vote.
