Overview
- The Florida Legislature approved Senate Bill 314 with a 37–0 Senate vote, and the measure now awaits delivery to Governor Ron DeSantis for review within the statutory window.
- The bill creates a licensing regime for qualified payment stablecoin issuers, including a requirement that out‑of‑state issuers notify the Office of Financial Regulation before operating in Florida.
- A pilot authorizes the Department of Financial Services to accept approved stablecoins for government payments such as licenses and taxes.
- Stablecoins are folded into Florida’s anti‑money‑laundering framework by defining them as monetary value and requiring money services businesses to keep records of transactions over $10,000.
- Oversight is structured to align with the federal GENIUS Act, with some issuers supervised by the state and others jointly with the OCC, and it restricts yield to holders where federal law limits such payments.