summary
Introduced
01/09/2026
01/09/2026
In Committee
03/10/2026
03/10/2026
Crossed Over
03/06/2026
03/06/2026
Passed
03/17/2026
03/17/2026
Dead
Introduced Session
2026 Regular Session
Bill Summary
An act relating to the use of digital currency by the Department of Financial Services; creating s. 17.72, F.S.; establishing the Florida Stablecoin Pilot Program within the Department of Financial Services; providing legislative intent; providing definitions; authorizing the department to engage in certain activities; authorizing the department to designate one or more payment stablecoins for certain activities; requiring that certain payment stablecoins meet specified criteria; authorizing the department to accept payment stablecoins; authorizing program participants to elect to voluntarily participate in the program and remit payment stablecoins to a compatible digital wallet address; requiring certain participants to provide the department with a compatible digital wallet address; requiring the department to comply with certain requirements; requiring the department to provide a compatible digital wallet address for a specified purpose; authorizing the department to conduct examinations, audits, and investigations of permitted payment stablecoin issuers; requiring the department to coordinate with the Office of Financial Regulation under certain circumstances; requiring the department to monitor and evaluate the pilot program and collect certain data; requiring the department to submit an annual report containing certain information to the Governor and Legislature, beginning on a specified date and annually thereafter; providing construction; authorizing the department to adopt rules; providing an effective date.
AI Summary
This bill establishes the Florida Stablecoin Pilot Program within the Department of Financial Services, aiming to explore the benefits of accepting "payment stablecoins" – digital assets designed for payment and settlement that are pegged to a fixed value, like the US dollar – for governmental fees. The program allows participants to voluntarily pay fees using these stablecoins, which must be issued by approved entities and meet specific criteria, including being fully backed by US currency or Treasury bills and redeemable at a one-to-one ratio for US dollars. The Department of Financial Services is authorized to designate specific stablecoins, accept them as payment, issue refunds in stablecoins, and hold them for short periods. The bill also outlines duties for the department, such as ensuring compliance with federal and state regulations, providing compatible digital wallet addresses for transactions, and converting stablecoin payments to US currency. Furthermore, the department is empowered to examine stablecoin issuers and must submit an annual report detailing the program's performance, findings, and recommendations, starting in February 2027. The program is an optional payment method and does not affect existing fee obligations or licensing requirements.
Committee Categories
Budget and Finance
Sponsors (1)
Other Sponsors (2)
Appropriations Committee on Agriculture, Environment, and General Government (Senate), Banking and Insurance (Senate)
Last Action
Ordered enrolled (on 03/17/2026)
Official Document
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bill summary
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bill summary
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bill summary
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