Florida Rescinds Strategic Bitcoin Reserves Bill

Odaily News Florida's House Bill 487 and Senate Bill 550 were "deferred indefinitely and withdrawn from consideration" on May 3, and the Florida legislature failed to advance the crypto reserve-related legislation before adjourning on May 2. The two bills were originally intended to allow the state to invest up to 10% of part of the state funds in Bitcoin (BTC) to establish a strategic crypto reserve.
Florida joins Wyoming, North and South Dakota, Pennsylvania, Montana and Oklahoma as the latest states to withdraw from the legislative race due to the failure of the bill to pass.
At the same time, Arizona still has two related bills (HB 2749 and SB 1373), of which HB 2749 intends to use the profits of the unclaimed property fund to provide budget-neutral support for Bitcoin reserves, and SB 1373 intends to authorize the state treasurer to allocate up to 10% of state funds to the digital asset field. (Cointelegraph)