Overview
- House Bill 183 would authorize Florida’s Chief Financial Officer and the State Board of Administration to allocate up to 10% of specified funds, including the Florida Retirement System, to Bitcoin, crypto ETFs, tokenized securities, and other blockchain-based assets.
- The proposal expands a withdrawn 2024 Bitcoin-only bill and adds stricter safeguards, including qualified custody requirements, continuous control standards, documentation and fiduciary rules, and collateralized lending only.
- If enacted, the law would take effect on July 1, 2026, enabling both direct holdings and exposure via SEC-registered exchange-traded products.
- The bill allows certain taxes and fees to be paid in digital assets, which must be converted to U.S. dollars before being credited to state accounts.
- Backers highlight the potential scale of a 10% cap applied per account, with the $218 billion Florida Retirement System cited, and the filing comes alongside a separate stablecoin bill (HB 175).