Florida lawmakers have approved a state framework to regulate stable payment coins, moving the legislation to Gov. Ron DeSantis’ desk for final approval.
On Friday post in X Samuel Armes, founder of the Florida Blockchain Business Association, revealed that Senate Bill 314 was unanimously approved by the Florida Senate. The measure will become law once DeSantis signs it, which Armes expects within the next month.
“The resolution has already passed the Senate and House and will be signed by DeSantis within the next 30 days!” wrote on X
Bill establishes regulatory guidance for stablecoin issuers operating in Florida. This measure, working in conjunction with House Bill 175, establishes consumer protection standards and financial oversight rules consistent with the federal GENIUS Act, which was signed into law in July.
Related: Florida Narrows Scope of Renewed 2026 Bitcoin Reserve Proposal
Florida bill changes money laundering law to include stablecoins
Under SB 314, the Florida Money Laundering Control Act would be amended to explicitly include stablecoins. The update requires stablecoin issuers to comply with existing financial regulations while prohibiting unlicensed issuance within the state. The legislation also clarifies that certain payment stablecoins will not be classified as securities.
Issuers based outside Florida must notify the state Office of Financial Regulation (OFR) before operating. Supervision will depend on the structure of the issuer. Some stablecoin operators will report solely to the OFR, while others will be subject to joint supervision with the Office of the Comptroller of the Currency.
The law also considers the potential risks associated with stablecoin incentives. Qualified issuers will not be permitted to pay interest or profits to holders if federal regulations prohibit such payments.
Related: Trump Sues JPMorgan in Florida Court for $5 Billion Over Debanking Claims: Report
Florida is re-examining the state’s cryptocurrency investment law
Last October, Florida lawmakers renewed efforts to integrate cryptocurrencies into state investment strategies. Florida House Bill 183, introduced by GOP Rep. Webster Barnaby, would allow the state and certain public entities to devote up to 10% of their funds to digital assets. The revised proposal goes beyond Bitcoin (BTC) to include exchange-traded products, cryptographic securities, immutable tokens and other blockchain-based assets.
HB 183 is an amended version of HB 487, which was withdrawn in June after it failed to pass the House operations subcommittee.
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