Florida drops Strategic Bitcoin Reserve plans as bills are withdrawn indefinitely

By: fxstreet|2025/05/06 17:00:08
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The US state of Florida has indefinitely postponed and withdrawn two crypto bills to form the Strategic Bitcoin Reserve from consideration. The two bills, HB 487 and SB 550, which aim to allocate up to 10% of public funds to BTC, were closed on Saturday. Meanwhile, the Arizona bill remains in the race, awaiting the governor’s approval. The US state of Florida has indefinitely postponed and withdrawn two crypto bills to form the Strategic Bitcoin Reserve from consideration. The two bills, House Bill 487 (HB 487) and Senate Bill 550 (SB 550), which aim to allocate up to 10% of public funds to BTC, were closed on Saturday. Meanwhile, the Arizona bill remains in the race, awaiting the governor’s approval. Florida joins other states in failing to pass bills for the Strategic Bitcoin Reserve The Florida Senate announced on Saturday that two crypto bills for establishing a Strategic Bitcoin Reserve were indefinitely postponed and withdrawn from consideration. HB 487 and SB 550, which aim to allocate up to 10% of public funds to BTC, were officially pulled. This marks a setback for crypto adoption in the US states, as Florida, along with Wyoming, South Dakota, North Dakota, Pennsylvania, Montana and Oklahoma, have all seen Bitcoin bills fail to pass House or Senate votes, according to Bitcoin Laws. What about Arizona Bitcoin reserve plans? In Arizona’s case, bill SB 1025 was passed on April 28. It allows the state treasurer and retirement system to invest up to 10% of available funds in digital assets, specifically Bitcoin. However, Governor Katie Hobbs vetoed the bill on Friday for being an “untested investment,” despite Arizona’s House and Senate approval. Arizona Senator Wendy Rogers, who introduced the bill to the House, said in her X post, “I will refile my bill next session.” Rogers continued: “I understand the governor vetoed my Arizona Bitcoin Reserve Bill. That is unfortunate. Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” I understand the governor vetoed my Arizona Bitcoin Reserve Bill. That is unfortunate. Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session. If she vetoes it again, I am sure Governor Andy Biggs will be happy to... pic.twitter.com/cUEqvfvCY9 “Arizona has two more chances to be the first in the nation to establish a Bitcoin Reserve,” said Satoshi Action Fund CEO & co-founder Dennis Porter on Monday. He explained further that HB 2749 is most likely to pass. It offers a budget-neutral method of funding the reserve using profit from the unclaimed property fund. Arizona has two more chances to be the first in the nation to establish a Bitcoin Reserve. The most likely to pass (HB 2749) was authored by @JeffWeninger , and it offers a budget neutral method to fund the reserve using profit from the unclaimed property fund. @EleanorTerrett pic.twitter.com/yGlrz2saql If these bills receive a green light, Arizona would be the first state to require public funds to invest in Bitcoin. Arizona would also become the first US state to hold Bitcoin as a reserve asset, which could set a precedent for other states, such as New Hampshire, North Carolina and Texas, also listed in the State Reserve Race. Related news Tron DEX trading volume hits yearly peak near $750M as TRX eyes upside to $0.26 Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP bulls turn cautious after rejection at key resistances Today is the strategic Bitcoin reserve deadline

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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