Florida Gov. Ron DeSantis Eyes State Stablecoin Framework Following Senate Passage
Florida’s State Senate unanimously passed Senate Bill 314, advancing state-level regulation of stablecoins. The bill explicitly defines stablecoins as "monetary value" under Florida’s anti-money laundering and money services laws, bringing them in line with traditional payment methods. The legislation empowers the Florida Department of Financial Services to accept certain stablecoins for official payments, such as licenses and taxes, and launches a pilot program to explore further government use of stablecoins. It also requires money services businesses to keep records of all stablecoin transactions exceeding $10,000. The measure aims to integrate state regulation with federal standards for stablecoins set by last year’s GENIUS Act. Florida’s approach reflects a broader move among U.S. states, following Texas’ early lead in recognizing and regulating stablecoins within existing financial frameworks. Governor Ron DeSantis is expected to consider the bill within 30 days of its delivery.
