Florida has drawn two bills related to the creation of a strategic Bitcoin reserve at the state level.

House Bill 487 and Senat’s Bill 550 have been “postponed and withdrawn from remuneration” according to the State Senate Web site. The two bills, both filed in February, tried to allow the investment of public funds in BTC.

Florida joins several other states, such as Wyoming, Pennsylvania and Oklahoma, which have seen bills related to BTC investments fail to clear the legislative process, according to Bitcoin -Love. There are a number of other states with outstanding bills, most of which remain in the initial committee phase.

The most advanced state-level process to establish a BTC reserve was in Arizona, where SB 1025 adopted a house voice with 31-25 only to be vetoed by Governor Katie Hobbs. The Bill proposed to allow the investment of seized funds to BTC.

There is still the related SB 1373, which will give up to 10% of Arizona State funds allocated to digital assets. This bill has not yet reached a final vote.

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