Florida Advances Bitcoin as State Asset with New Bill
Florida is making a bold move in the world of cryptocurrency. The state has introduced a bill that could see Bitcoin become part of its financial reserves. This step puts Florida in the company of other states like arizona and New Hampshire, wich are also exploring Bitcoin as a sovereign asset.
House bill 487, or āInvestments of Public Funds in Bitcoin,ā has already won unanimous support from the House Insurance and Banking Subcommittee. If passed,it will allow the state to invest up to 10% of its public funds in Bitcoin. This includes the General Revenue Fund and the Budget Stabilization Fund. The bill also sets strict rules for security and compliance.
However, the journey is not over yet.The bill must pass through three more committees before it reaches the full House for a vote. If successful, it will then move to the Senate and, the governorās desk.
This trend is not unique to Florida. Arizona is leading the race with its Senate Bills 1373 and 1025, which are now headed for a full House vote. If passed, Arizona could become the first state to officially adopt a Bitcoin reserve policy. New Hampshire is also advancing its Bitcoin reserve bill, which has passed the full House and is now under senate review.
These moves reflect a growing interest in Bitcoin as a potential asset for state reserves. For more details, visit Bitcoin Laws.
