The Florida legislature has unanimously passed a bill establishing a state-level regulatory framework for payment stablecoins. The measure, Senate Bill 314, now awaits Governor Ron DeSantis’s signature, which is expected within 30 days, as stated by Samuel Armes, founder of the Florida Blockchain Business Association.
Florida lawmakers have approved a state-level framework regulating payment stablecoins, moving the legislation to Governor Ron DeSantis’s desk. “It has now passed the Senate and the House, and will be signed by DeSantis within the next 30 days!” wrote Samuel Armes on X.
The bill establishes regulatory guidelines for payment stablecoin issuers operating within the state. It works alongside House Bill 175, introducing consumer protection standards aligned with the federal GENIUS Act.
Senate Bill 314 amends Florida’s Control of Money Laundering in Money Services Business Act to explicitly include stablecoins. The update bans unlicensed issuance and clarifies certain payment stablecoins will not be classified as securities.
Out-of-state issuers must notify Florida’s Office of Financial Regulation before operating. Oversight will depend on the issuer’s structure, involving either the OFR alone or jointly with the Office of the Comptroller of the Currency.
The law also addresses stablecoin incentives, barring qualified issuers from paying interest if federal rules prohibit such payments. This action follows other state-level crypto initiatives, including a revived investment bill.
Lawmakers recently revived efforts to integrate cryptocurrencies into state investment strategies through House Bill 183. That proposal would allow the state and certain public entities to allocate up to 10% of funds into digital assets.
