Florida Passes State-Level Stablecoin Regulation; Awaiting Gov. DeSantis’ Signature

Florida lawmakers passed SB 314 (with companion HB 175), creating the state’s first regulatory framework for payment stablecoins; the bill is now on Governor Ron DeSantis’ desk awaiting signature. The law amends Florida’s money services and anti-money-laundering statutes to explicitly include payment stablecoins, bans unlicensed issuance inside the state, and requires out-of-state issuers to notify the Florida Office of Financial Regulation (OFR) before operating. It clarifies that specified payment stablecoins are not securities and establishes supervisory regimes that vary by issuer structure and location — some issuers will be regulated solely by the OFR, while others may face joint oversight with the state Office of the Comptroller. The bill also restricts payment of interest or yields to holders where federal rules prohibit such payments and aligns with the recently enacted federal GENIUS framework. The measure accompanies revived state proposals (e.g., HB 183) to allow limited public-fund allocations to digital assets. Key stakeholders include Governor DeSantis, bill sponsors, and Florida’s blockchain industry. For crypto traders: monitor the governor’s signing (expected within 30 days), notice and licensing requirements for issuers, and possible regional shifts in stablecoin issuance, custody and operations — developments that could reduce legal uncertainty for payment stablecoins, encourage issuer activity in Florida, and influence market sentiment around stablecoin liquidity and onshore custody.