Florida Senate approves stablecoin bill, awaits DeSantis' signature

The Florida Senate unanimously approved Senate Bill 314 and sent it to Governor Ron DeSantis. Samuel Armes, founder of the Florida Blockchain Business Association, wrote on X that the measure is expected to be signed within the next 30 days. SB 314 creates a state framework for payment stablecoin issuers and is intended to work alongside House Bill 175.

It introduces consumer protection standards and financial oversight rules that align with the federal GENIUS Act, which was signed into law in July. The bill amends Florida’s Control of Money Laundering in Money Services Business Act to explicitly include stablecoins, requires issuers to comply with existing financial regulations, and bans unlicensed issuance within the state.

It also clarifies that certain payment stablecoins will not be classified as securities. Issuers based outside Florida must notify the state’s Office of Financial Regulation before operating.

United States, Florida

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