Two Florida cryptocurrency bills have been withdrawn from the legislative process.
On May 3, Florida House Bill 487 and Florida Senate Bill 550 were "indefinitely postponed and withdrawn from consideration," according to the Florida Senate.
Florida's legislative session ended on May 2 without passage of these bills, which sought to create a cryptocurrency reserve for the state. The session has been extended to June 6 to focus on budget debates.
Introduced in February, HB 487 sought to allow Florida's chief financial officer and the State Board of Administration to invest up to 10% of certain state funds in Bitcoin.
Similarly, SB 550 was introduced in February to facilitate the investment of public funds in Bitcoin.