Florida has withdrawn two significant cryptocurrency bills, House Bill 487 and Senate Bill 550, from legislative consideration. These bills aimed to establish a state crypto reserve but were indefinitely postponed as of May 3, following the adjournment of the legislative session on May 2. With other legislative priorities, including environmental and educational reforms, lawmakers did not focus on diversifying the state treasury through Bitcoin investments. This setback for Florida aligns with similar outcomes in other states, including Wyoming and Pennsylvania, where attempts to pass Bitcoin legislation have failed. Meanwhile, the state of Arizona advanced its strategic Bitcoin reserve legislation further than others, although Governor Katie Hobbs vetoed House Bill 1025, characterizing digital assets as untested investments. Two additional bills in Arizona continue to offer potential paths for establishing a Bitcoin reserve, with hopes that they may succeed where others have not.

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