Florida legislators have halted two bills that seek to establish a state Strategic Bitcoin Reserve.

This marks another significant blow to the state's pursuit of a Bitcoin reserve in the U.S. Other states have also faced roadblocks in their efforts

Florida legislators have halted two bills that aim to create a state Strategic Bitcoin Reserve. This marks another major setback for the state’s pursuit of a Bitcoin reserve, which several other states are also trying to introduce. As reported by Bitcoin News, House Bill 487 and Senate Bill 550 were postponed and pulled from consideration.

Both bills, if passed, would have established a state Bitcoin Reserve for the state to accumulate the flagship cryptocurrency. According to the legislature’s website, both bills were postponed and “withdrawn from consideration.”

“State Reserve Race Update: Both Florida’s Bitcoin Reserve Bills have failed. The legislature adjourned its 2025 session on May 2, without passage of the bills. HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration,’'” Bitcoin Laws added on X.

House Bill 487 was filed in February and received positive feedback from the digital asset community. The bill sought to authorize the Chief Financial Officer to invest a portion of the state’s funds in Bitcoin. This follows President Trump’s and a pro-crypto senator’s effort to create a Bitcoin reserve.

On the campaign trail, President Trump pledged to back the crypto industry, making the US the global Bitcoin and Artificial Intelligence capital. Among other things, Trump stated that his administration would halt the sale of Bitcoin, creating a reserve to support innovation in the sector. After his inauguration, Trump issued an executive order to create a reserve and floated pro-crypto policies.

Meanwhile, Senator Cynthia Lummis proposed a bill that will enable the Federal Government to acquire 1 million BTC in four years to help repay its rising debt.

"This bill will provide for the orderly acquisition of 1 million Bitcoin by the United States over a four-year period, beginning in 2025, to help the Federal Government repay its outstanding debt obligations in a timely and efficient manner," the bill reads in part.

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