Florida’s Two Bitcoin Reserve Bills Die in Committee

Monicah W

Two initiatives to pass a state-level Strategic Bitcoin Reserve have failed in Florida, marking another setback for the nationwide movement. Nonetheless, several other active proposals remain.

Between this failure and Arizona’s recent veto, momentum might be slowing. Utah passed a Bitcoin-centric bill after totally excising Reserve-related language, but there’s been no unambiguous victory anywhere in the US.

Florida’s Bitcoin Reserve Proposals Fail

Since President Trump first committed to the US Strategic Bitcoin Reserve, several state governments have been pushing their own proposals.

One such Reserve bill in Florida unanimously passed through its first Subcommittee vote less than a month ago, building a sense of momentum. However, these bills were withdrawn today, marking a real defeat.

“Both Florida’s Bitcoin Reserve Bills have failed. The legislature adjourned its 2025 session on May 2, without passage of the bills. HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration,’” claimed a crypto policy watchdog.

Technically, Florida’s Bitcoin Reserve bills accumulated bipartisan support in their first appearance. This is a critically useful tool for passing crypto-friendly regulation, but Florida’s support was fragile.

Their sponsor, Webster Barnaby, faced overwhelming skepticism at the time. Although he convinced them on the day, his words didn’t carry far.

Unfortunately, Florida is not the only state-level Bitcoin Reserve that has faced recent setbacks. Arizona’s state legislature comfortably passed two such bills in late April, but Governor Katie Hobbs vetoed one of them.

The other might stand a better chance of receiving approval, but there’s no definite way to know. The main difference between the two involves funding.

As Florida’s Bitcoin Reserve bills quietly died in committee, it’s difficult to analyze a definite reason for their failure. Many state-level bills have been plagued by concern from fiscal conservatives unwilling to invest tax dollars in cryptocurrency.

This belief certainly has bipartisan buy-in; it’s been a feature of questions in Florida, the veto in Arizona, and other failures nationwide.

There are still a few active proposals, but their future is looking increasingly uncertain. The most hopeful prospect, in Utah, did technically become law, but only after shedding all mention of a Bitcoin Reserve.

Utah passed Bitcoin-friendly regulation, but refused this more ambitious task. If these failures continue, it may blunt momentum nationwide.

The post Florida’s Two Bitcoin Reserve Bills Die in Committee appeared first on BeInCrypto.

Related Posts

Coinbase Avoids a Major Supply Chain Attack On Its Blockchain AI Toolkit

Coinbase, the largest crypto exchange in the US, has successfully evaded a supply chain attack that could have compromised its open-source infrastructure.

On March 23, Yu Jian, founder of blockchain security firm SlowMist, flagged the incident in a post on X, referencing a report from Unit 42, the threat intelligence division of Palo Alto Networks.

How Coinbase Stopped a Major Cyber Attack

According to Unit 42, the attacker targeted ‘agentkit’, an open-source toolkit managed by Coinbase that supports blockchain-based AI agents.

The threat actor forked agentkit and onchainkit repositories on GitHub, inserting malicious code intended to exploit the continuous integration pipeline. The suspicious activity was first detected on March 14, 2025.

“The payload was focused on exploiting the public CI/CD flow of one of their open source projects – agentkit, probably with the purpose of leveraging it for further compromises,” Unit 42 reported.

The attacker exploited GitHub’s “write-all” permissions, which allowed the injection of harmful code into the project’s automated workflow. This method could have enabled access to sensitive data and created a path for broader compromises.

A Malicious Commit Targeting Coinbase.
A Malicious Commit Targeting Coinbase. Source: Unit42

However, Unit 42 reported that the payload collected sensitive information. It did not contain advanced malicious tools like remote code execution or reverse shell exploits.

Meanwhile, Coinbase responded quickly, collaborating with security experts to isolate the threat and apply necessary mitigations. This rapid action helped the company avoid deeper infiltration and prevented potential damage to its infrastructure.

The stakes were high considering Coinbase’s standing as the largest crypto exchange in the US and a key custodian for spot Bitcoin ETFs.

A breach of this nature could have caused major disruption across the crypto industry, especially after Bybit’s recent $1.4 billion security incident.

Despite the failed attempt, the attacker has since shifted focus to a larger campaign now drawing global attention.

In light of this, SlowMist founder advised developers using GitHub Actions—especially those working with tj-actions or reviewdog—to audit their systems and confirm that no secrets have been exposed.

“If your company uses reviewdog or tj-actions, do a thorough self-examination,” Yu Jian stated on X.

This incident highlights the growing importance of securing open-source tools as the crypto ecosystem expands. Data from DeFillama shows that the crypto industry has recorded exploits of more than $1.5 billion this year.

The post Coinbase Avoids a Major Supply Chain Attack On Its Blockchain AI Toolkit appeared first on BeInCrypto.