Today in crypto, Binance founder Changpeng “CZ” Zhao expects Bitcoin to reach between $500,000 and $1 million this market cycle, driven by institutional adoption, growing government accumulation, and a pro-crypto US policy, Florida has withdrawn its two Bitcoin reserve bills from consideration in a blow to Bitcoin hopefuls, and asset manager VanEck has filed for the first US BNB exchange-traded fund.
Florida takes strategic Bitcoin reserve bills off the tableTwo Florida crypto bills have been removed from the legislative process in the latest blow to American state-level strategic Bitcoin reserve ambitions. Florida’s House Bill 487 and Senate Bill 550 have been “indefinitely postponed and withdrawn from consideration” on May 3, according to the Florida Senate. State strategic Bitcoin reserve legislation race.
The Senate and House agreed to extend the session until June 6 to address budget plans. Lawmakers passed about 230 bills during the session, dealing with things like prohibiting putting fluoride in the water, protecting state parks, and a school smartphone ban, but diversifying state treasury portfolios was not among them. HB 487, which was introduced in February, would have allowed Florida’s chief financial officer and the State Board of Administration to invest up to 10% of certain state funds into Bitcoin (BTC).
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Author / Journalist: Cointelegraph by Cointelegraph
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