Florida is advancing its cryptocurrency and digital asset agenda with the introduction of two major legislative proposals filed on October 15, 2025, marking the start of the 2026 legislative session.
Representative Webster Barnaby has submitted House Bill 183 (HB 183) and House Bill 175 (HB 175), aimed at expanding the state’s investment strategy and easing regulations for stablecoin issuers.
HB 183 authorizes Florida’s Chief Financial Officer to allocate up to 10% of select public funds, including the General Revenue Fund, the Budget Stabilization Fund, and trust funds, into digital assets such as Bitcoin, tokenized securities, NFTs, and crypto ETFs.
The Florida Retirement System’s System Trust Fund could also invest up to 10% in these assets.
The bill introduces strict custody standards, requiring holdings to be managed through the CFO, licensed custodians, or SEC-registered ETFs, and allows residents to pay certain taxes and fees in digital assets, converted to U.S. dollars before deposit. If enacted, HB 183 would take effect on July 1, 2026.
HB 175 complements the state’s digital asset strategy by simplifying regulatory requirements for stablecoin issuers. The measure exempts recognized payment stablecoins from separate licenses, mandates full collateralization in U.S. dollars or Treasury securities, and requires monthly public audits of reserves.
Barnaby emphasized the state’s leadership ambitions, stating, “I am proud to be running this bill to place Florida on the cutting edge of financial technology, and to set the example for other states to follow.”
Florida’s renewed legislative push follows the failed attempt of HB 487 in June 2024 and comes amid a broader wave of state-level digital asset initiatives across the U.S., with only Arizona, New Hampshire, and Texas successfully passing crypto reserve legislation in 2025.
The new bills signal Florida’s intention to strengthen its crypto infrastructure and position itself as a hub for digital finance, building on prior initiatives including the Office of Fintech Policy (2023) and the Financial Technology Sandbox (2025).
If passed, HB 183 and HB 175 would mark a significant step in formalizing the state’s approach to digital assets, blending innovation with regulatory oversight, and enabling Florida to capture economic opportunities in cryptocurrencies, tokenized assets, and stablecoins while maintaining fiduciary and consumer protections.