State of Florida withdraws Bitcoin reserve bills amid growing countrywide setbacks

By: bitcoin ethereum news|2025/05/06 19:45:01
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Florida has officially stepped back from the growing movement among US states to establish a Strategic Bitcoin Reserve (SBR). According to the Florida Senate’s website, lawmakers have indefinitely postponed and withdrawn two critical pieces of legislation, House Bill 487 and Senate Bill 550, to enable public investment in Bitcoin. Despite bipartisan support, particularly for HB 487 at the committee stage, the bills stalled early in the legislative process. Data from Bitcoin Laws confirms that neither bill advanced beyond the first committee hearing. Meanwhile, Samuel Armes, founder of the Florida Blockchain Business Association, suggested the conversation isn’t over. He noted that while the bills appear stalled, there are still ways to reintroduce the language through budget negotiations currently underway. He said: “To the person in the outside, the bills seem dead but to those on the inside, we have another month to keep pushing.” Is Bitcoin’s reserve bill momentum slowing? Florida’s retreat follows Arizona Governor Katie Hobbs’ high-profile veto of a similar proposal. Hobbs cited the absence of reliable historical data on Bitcoin’s performance as the reason for rejecting what was then the most advanced SBR bill in the nation. The retreat in Florida now adds to a broader slowdown across the country. So far, at least eight states, including Arizona, Montana, North Dakota, Oklahoma, Pennsylvania, South Dakota, and Wyoming, have paused or abandoned similar initiatives. Nationwide, the number of states actively considering SBR-related legislation has dropped to 19, with 36 bills still under discussion. These proposals aim to reshape how states manage long-term reserves by including decentralized digital assets like Bitcoin. Meanwhile, efforts for the initiative continue at the federal level. President Donald Trump has signed an executive order directing the development of a national Bitcoin reserve. However, some industry experts remain skeptical of the plan. BitMEX co-founder Arthur Hayes argued the US is unlikely to expand its holdings due to fiscal concerns and lingering biases against Bitcoin culture. Source: https://cryptoslate.com/florida-withdraws-bitcoin-reserve-bills-amid-growing-state-hesitance/

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

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Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

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Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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