Florida joins Bitcoin reserve race with first committee approval of HB 487

Florida has crossed its first legislative stage towards the adoption of Bitcoin as an asset held by the State, joining the race led by Arizona and followed closely by the New Hampshire.

Florida is the last American state to make progress towards the adoption of Bitcoin (BTC) As a strategic reserve actor, such as its bill 487 (HB 487) pass Through the subcommittee of home and banking insurance with unanimous support on April 10 audience.

THE InvoiceEntitled “Investments in public funds in Bitcoin”, proposes to authorize the financial director and the Board of Directors of the Florida State to invest up to 10% of the main public funds – including the general income fund and the budgetary stabilization fund – in Bitcoin. It describes strict guard, safety and compliance protocols, and also allows Bitcoin to lend or use in products negotiated on the stock market.

After having authorized the first of the four committees, HB 487 must always go through the subcommittee of government operations, the road and means committee and the Commerce Committee before going to the full chamber for a vote. If it is adopted by the House, the bill will move to the Senate for examination and, ultimately, the Governor’s office.

Florida’s push occurs in the middle of a broader trend in American states exploring Bitcoin as a class of sovereign assets.

According to Bitcoin laws, Arizona seems to be leading the legislative race. At the end of March, its bills of the Senate 1373 and 1025 – both linked to the digital asset reserves – were transmitted by the Senate and erased the Rules of the Chamber Committee. These invoices are now headed For a full vote of the room. If successful, they would only need the governor Katie Hobbs“Signature to become law, making Arizona the first state to officially adopt a Bitcoin reserve policy.

Meanwhile, New Hampshire also has advance His bill on the Bitcoin reserve (HB 302), which adopted the full chamber during a vote of 192-179 and is now under examination of the Senate. The bill would allow the State treasurer to allocate up to 10% of the funds authorized in bitcoin and in precious metals, but only assets with market capitalization exceeding $ 500 billion – a threshold currently reached only by Bitcoin – would be eligible.