summary
Introduced
01/09/2026
01/09/2026
In Committee
03/02/2026
03/02/2026
Crossed Over
Passed
Dead
03/13/2026
03/13/2026
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, allowing the department to accept "payment stablecoins" – a type of digital asset designed to maintain a stable value relative to a fixed amount of money, like the U.S. dollar – for various fees, and to issue refunds in the same form. The program is voluntary for participants, who can opt to pay fees using payment stablecoins by sending them to a designated digital wallet address, and must provide a compatible digital wallet address if they wish to receive refunds or reimbursements in payment stablecoins. The bill defines key terms such as "blockchain" (a secure, decentralized digital ledger), "compatible digital wallet address" (a digital address for storing private keys to access and transact with payment stablecoins), and "payment stablecoin issuer" (entities approved to issue these digital assets). It sets criteria for acceptable payment stablecoins, including a minimum market capitalization, full backing by U.S. currency or Treasury bills, and redeemability for U.S. dollars. The Department of Financial Services is authorized to conduct examinations of payment stablecoin issuers and must submit an annual report on the program's performance, starting in February 2027.
Committee Categories
Business and Industry
Sponsors (2)
Other Sponsors (2)
Commerce Committee (House), Insurance & Banking Subcommittee (House)
Last Action
Laid on Table, refer to CS/CS/SB 1568 (on 03/11/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
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