Florida has indefinitely delayed two bills aimed at establishing a strategic Bitcoin reserve, according to a January 9, 2025, report from the Tallahassee Democrat. Senate Bill 74 and House Bill 61, introduced in late 2024, proposed studying the feasibility of holding Bitcoin as a state asset to diversify Florida’s financial reserves and hedge against inflation.
The bills, sponsored by Sen. John Smith (R) and Rep. Maria Gonzalez (R), suggested forming a task force to evaluate risks, costs, and benefits, including legal and cybersecurity considerations. The task force was to include state financial officials, blockchain experts, and economists, with a report due by July 2025.
No official reason for the postponement was provided, but sources cited by the Tallahassee Democrat suggest concerns over Bitcoin’s volatility and regulatory uncertainty at the federal level. Some legislators also questioned the state’s capacity to securely manage digital assets.
Supporters, including crypto advocacy groups like the Florida Blockchain Association, expressed disappointment, arguing the bills were a proactive step toward financial innovation. Critics, including state banking regulators, warned of potential risks to Florida’s fiscal stability.
The indefinite delay leaves Florida’s Bitcoin reserve plans in limbo, with no timeline for reintroduction. Meanwhile, other states like Texas and Wyoming continue exploring similar crypto-friendly policies.
