Florida’s Insurance and Banking Subcommittee unanimously passed a bill supporting a state-level Bitcoin Reserve. It will now head to the legislature. This is the first state Bitcoin reserve bill to pass the House committee with zero votes against it.
Although most of the initial comments were highly skeptical due to recent market chaos and fiscal conservatism, state sponsor Webster Barnaby and other supporters won them over.
Florida Advances in the State Race for a Bitcoin Reserve
Over the last few months, a spree of Bitcoin Reserve bills have swept through US state legislatures. Although these initiatives have seen setbacks due to funding concerns, there have also been noteworthy successes. Today, the crypto industry can count another win, as Florida’s Insurance and Banking Subcommittee unanimously voted to approve a Bitcoin Reserve:
“Bitcoin Strategic Bill Passes House Committee unanimously. Today’s remarks was a historical moment, and I am proud to have been a part of it with Samuel Armes and Florida. Bitcoin is the PEOPLES currency,” claimed Joshua Jake, who spoke in favor of the initiative.
Florida’s Bitcoin Reserve bill also marks a new milestone, even if it’s only a Subcommittee vote. This bill passed with complete bipartisan support, without a single Democrat siding against the bill. One of the Representatives either abstained or was absent, but everyone present was swayed by the argument.
Although the Subcommittee hearing was initially skeptical, partially due to recent tariff-imposed chaos, sponsor Webster Barnaby maintained an impassioned defense. By the end, he and the Bitcoin Reserve bill’s other supporters managed to wholly win over this Florida Subcommittee. From here, it’ll head to the legislature.
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