- The Florida Senate has unanimously passed Senate Bill 314, a framework for regulating payment stablecoins.
- The bill officially integrates stablecoins into the state’s money laundering laws and outlines licensing requirements for issuers.
- Governor Ron DeSantis is expected to sign the bill into law within the next 30 days.
- Separate legislation, HB 183, would allow Florida to invest state funds in a wider range of digital assets.
Florida lawmakers have unanimously approved a state-level framework regulating payment stablecoins, according to Samuel Armes. The bill now moves to Governor Ron DeSantis’ desk for his signature, which is anticipated within 30 days.
This legislation establishes clear regulatory guidelines for payment stablecoin issuers operating within Florida. Consequently, it introduces consumer protection standards and financial oversight rules aligned with recent federal law.
A key provision amends Florida’s money laundering statutes to explicitly include stablecoins. The update also bans unlicensed issuance and clarifies that certain stablecoins are not securities.
Oversight will be shared, with some issuers falling under the state’s Office of Financial Regulation. Others will face joint supervision with the federal Office of the Comptroller of the Currency.
Meanwhile, state lawmakers are separately considering expanding Florida’s investment options. The revived House Bill 183 would permit state funds to be allocated into digital assets like cryptocurrencies and NFTs.
This bill is a revised version of earlier legislation that failed to advance last year. It represents a continued effort to integrate blockchain-based assets into public financial strategy.
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