Florida Senate Passes Stablecoin Licensing Bill

The Florida Senate approved a bill creating a licensing framework for stablecoin issuers, moving the state closer to formal oversight of digital payment tokens. Lawmakers passed the House companion bill, CS/CS/HB 175, on March 5 with a unanimous 37 to 0 vote.

The legislation establishes rules for companies that issue payment stablecoins, a type of digital asset designed to maintain a stable value, usually tied to the U.S. dollar. The measure now awaits final processing before it can become law.

Florida lawmakers said the framework aims to align state rules with federal proposals for regulating stablecoins. The bill places supervision under the Florida Office of Financial Regulation, which would oversee licensing and compliance requirements for issuers operating in the state.

Florida Stablecoin Licensing Framework Sets Reserve and Disclosure Rules

The bill introduces a regulatory structure for companies issuing stablecoins used in payments. Under the framework, issuers must obtain a license or qualify for an exemption before offering payment stablecoins in Florida.

The measure also requires issuers to maintain reserves equal to the value of the stablecoins in circulation. Those reserves must remain liquid and fully backed on a one to one basis. In addition, companies must publish redemption policies that explain how holders can exchange stablecoins for U.S. dollars.

Issuers must also disclose the composition of their reserves every month. Independent public accounting firms will examine those reports to confirm that reserves match the amount of stablecoins issued.

Florida Stablecoin Law Aligns With Federal Regulatory Efforts

Florida’s legislation reflects broader federal discussions on stablecoin oversight. The Senate analysis states the state framework is designed to be substantially similar to provisions outlined in the proposed federal GENIUS Act.

The bill also sets rules for issuers operating across state lines. Federally qualified issuers may operate in Florida without obtaining a separate state license. Meanwhile, state licensed issuers from other jurisdictions can operate in Florida as host state issuers after notifying regulators.

Another provision addresses scale. If a stablecoin issuer reaches ten billion dollars in total consolidated issuance, the framework directs the company to transition toward federal supervision unless regulators grant a waiver.

Several provisions in the legislation are expected to take effect on October 1, 2026. The timeline gives Florida regulators time to develop certification procedures and oversight guidelines for stablecoin issuers.