Florida Strategic Bitcoin Reserves Act Withdraws from State Crypto Legislative Competition

PANews May 6th news, according to Cointelegraph, Florida House of Representatives Bill 487 and Senate Bill 550 were "delayed indefinitely and withdrawn from deliberation" on May 3. The two bills originally planned to allow state finance to invest up to 10% of some public funds in Bitcoin and establish state-level crypto reserves. However, the Florida Legislature did not pass relevant legislation before the end of its meeting on May 2 and has officially withdrawn from the state-level Bitcoin Reserves Act competition. Previously, similar bills also failed in South Dakota, Montana and other places. By contrast, Arizona still has two related proposals pending.