Overview
- The Senate passed SB 314 in a 37–0 vote, and a DeSantis spokesperson said he will review the bill once it is delivered, with up to 30 days to sign or veto.
- The framework aligns with the federal GENIUS Act, placing some payment stablecoins under Florida’s Office of Financial Regulation and others under joint supervision with the OCC.
- It establishes a licensing regime for qualified stablecoin issuers and requires out‑of‑state providers to give prior written notice to Florida regulators before operating.
- Stablecoins are defined as “monetary value” under state law, bringing them under existing anti‑money‑laundering rules, including recordkeeping for transactions over $10,000.
- The bill authorizes a pilot for the Department of Financial Services to accept approved stablecoins for state payments such as licenses and taxes, and it restricts issuer yield where federal law bars interest.