- Florida lawmakers approve stablecoin framework as DeSantis prepares to sign bill
- New Florida stablecoin law introduces oversight rules for crypto payment issuers
- State regulators gain authority as Florida advances stablecoin regulatory framework
Florida lawmakers have approved a new regulatory framework focused on stablecoins, moving the legislation closer to becoming law as the bill now awaits the signature of Governor Ron DeSantis, who is expected to review and potentially sign the measure in the coming weeks following its successful passage through both chambers of the state legislature. The proposal gained strong support during the legislative process, particularly in the Florida Senate where Senate Bill 314 secured 37 votes in favor with zero opposition, signaling broad bipartisan agreement on the need for clearer regulatory standards surrounding payment stablecoins and the businesses that issue them within the state.
Attention around the legislation quickly spread across the digital asset industry after Samuel Armes, founder of the Florida Blockchain Business Association, highlighted the development publicly on social media, stating that the bill has already passed both the Senate and the House and is now awaiting final approval from Governor DeSantis.
The legislation introduces a structured framework for payment stablecoin issuers operating in Florida, establishing consumer protection rules and financial oversight guidelines that aim to strengthen trust in digital payment assets while ensuring that companies issuing these tokens follow clearly defined regulatory obligations.
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Additionally, lawmakers designed the proposal to align closely with the federal GENIUS Act, which created a nationwide framework for stablecoin oversight last year and encouraged states to implement complementary regulatory policies that support financial stability. The bill also revises the Florida Control of Money Laundering in Money Services Business Act so that stablecoin issuers must comply with existing licensing and compliance requirements that already apply to other financial service providers operating within the state.
Moreover, the legislation explicitly clarifies that certain payment stablecoins will not be classified as securities under Florida law, a provision that could reduce regulatory uncertainty for companies entering the digital payments market.
Florida Strengthens Oversight of Stablecoin Issuers and Crypto Businesses
Beyond establishing new compliance requirements, the legislation also outlines oversight procedures for companies issuing stablecoins outside Florida but offering services within the state, requiring them to provide written notice to the Office of Financial Regulation before conducting operations locally. Regulatory supervision will vary depending on the structure of the issuing company, since some stablecoin issuers will fall directly under the authority of Florida’s Office of Financial Regulation, while others may operate under joint oversight involving the Office of the Comptroller of the Currency.
The framework also addresses interest payments connected to payment stablecoins by stating that issuers cannot provide interest to token holders if such payments conflict with federal law. Meanwhile, Florida lawmakers approved a companion measure that expands confidentiality protections for sensitive information collected by regulators from virtual currency businesses and stablecoin issuers, ensuring that trade secrets and proprietary business data remain protected during regulatory oversight.
This additional legislation also extends confidentiality protections to trust companies acting as qualified payment stablecoin issuers, reflecting a broader effort by state lawmakers to strengthen the regulatory environment for digital asset companies operating in Florida. Florida’s stablecoin legislation now moves to Governor Ron DeSantis for final approval, and once signed into law the measure could position the state among the first jurisdictions in the United States with a dedicated regulatory framework governing payment stablecoins and their issuers.
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