Florida is the latest state to cancel its public funding program in Bitcoin. On May 3, the legislative session concluded that two bills that would allow 10% of certain state funds to be collateralized by cryptocurrencies would be withdrawn.
Neither bill voted until “delayed and withdrawn considerations indefinitely.” The report said neither bill voted. ”
States refuse crypto reserve legislation by swift inheritance
Florida’s efforts collapsed after the same failures in at least seven other states this year. Arizona, Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming have rejected or abandoned Bitcoin Treasury bills in recent months.
Some bills are closer to voting than anyone expected. In Arizona, a bill passed the House and the Senate, after Gov. Katie Hobbs vetoed the House last week. The governor said in her veto message that pension funds are not a place to test unproven assets. ”
Legislative Council votes show divisions on crypto investment
Voting records in the states show conflicting opinions on government bitcoin reserves. Oklahoma’s legislation received widespread support on one committee, but beat 6-5 on April 29 in the Senate Tax and Tax Committee.
Senator Christi Gillespie rebuilt support legislation after hearing from voters, but that wasn’t enough to rescue it.
BTCUSD trading at $94,961 on the 24-hour chart: TradingView.com
South Dakota lawmakers voted to decide on their bill in a 9-3 committee vote last February. Montana House Bill 429 died on a full-floor vote of 59-41, although supporters used it as a simple means to diversify investment risks. North Dakota’s bill suffered the same fate with a 57-32 rejection.
Wyoming has a push close to zero support, with only one legislator voting for it. Pennsylvania’s bill never even left the committee to vote.
Now most states Bitcoin bills are dead or stagnant now
The trend of rejection is a clear reversal from earlier this year. Just a few weeks ago, more than 45 Bitcoin reserve bills had been filed in more than twenty states.
According to the Bitcoin Preparation Tracker Bitcoin Law, the law now has 36 active bills in 19 states.
State Bitcoin reserve bill race. Source: Bitcoin Laws
Utah, considered by many as the leader of the movement, eventually pulled key provisions from its blockchain bill. The final version passed eliminates the provision, allowing state finance managers to invest in digital assets.
Arizona has two other opportunities to become the first U.S. to build a Bitcoin reserve.
Most likely to pass (HB 2749) by @jeffweningerit provides a budget-neutral method to fund reserves using profits from unclaimed property funds. @EleanorterRett pic.twitter.com/yglrz2saql
— Dennis Porter (@dennis_porter_) May 5, 2025
Texas and New Hampshire’s remaining Bitcoin efforts
Others tried different nails. Arizona has an independence bill (SB 1373) still before the governor’s signature. This bill is different from the vetoed bill, targets custody rather than direct investment, and may still become law.
With the states’ legislative calendars closed, only Texas and New Hampshire’s Bitcoin reserve bills seem to have obvious avenues.
The legislatures in both states are still pushing for these bills, while other bills along the way cannot survive.
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