Florida lawmakers have approved legislation creating a state regulatory framework for payment stablecoins, sending the bill to Governor Ron DeSantis after overwhelming bipartisan support.
The measure, CS/CS/HB 175, passed the Florida House by a vote of 102–2 on March 3 and cleared the Senate unanimously 37–0 on March 5, positioning the state to introduce one of the first comprehensive stablecoin frameworks in the United States.
The legislation requires payment stablecoins issued in Florida to be backed one-to-one with high-quality liquid assets such as US currency, insured deposits, short-term Treasury securities or government money market funds.
Issuers would also be required to obtain licences from the Florida Office of Financial Regulation and provide monthly reserve disclosures verified by a certified public accountant.
The bill defines payment stablecoins as digital assets primarily used for payments or settlement and specifies that qualifying tokens would not be treated as securities under Florida law.
If signed into law, the framework would introduce licensing requirements beginning October 1, 2026, including strict reserve, redemption and anti-money laundering compliance obligations.