A Florida Home Republican has filed a revised invoice to permit the state to spend money on digital belongings, corresponding to Bitcoin and crypto ETFs, after Florida’s operations subcommittee withdrew his preliminary try in June.
The Florida Home Invoice 183 would let the state and sure public entities make investments as much as 10% of their funds in digital belongings like Bitcoin (BTC), crypto exchange-traded merchandise, crypto securities, non-fungible tokens, and different blockchain-based merchandise, according to the brand new invoice launched by Florida lawmaker Webster Barnaby on Wednesday.
The brand new crypto reserve invoice is much like Webster’s HB 487, which was killed in June, however provides new custody, documentation and fiduciary requirements for holding and lending digital belongings.
One other key addition Barnaby made was to broaden the investible digital belongings from Bitcoin-only to a broader vary of crypto belongings, giving Florida higher flexibility to diversify its digital asset holdings if the invoice passes.
HB 183 seeks to take impact on July 1, 2026, and authorize the State Board of Administration to take a position pension and different belief funds in digital belongings.
Solely three state Bitcoin reserve payments have been enacted
A spree of Bitcoin and digital asset reserve payments have been launched into state legislatures throughout the 2025 legislative session; nonetheless, the overwhelming majority failed, with simply three payments from Arizona, New Hampshire and Texas being enacted into legislation.
New Hampshire’s HB 302 permits the treasurer to take a position as much as 5% of public funds in digital belongings with market caps above $500 billion — presently simply Bitcoin — whereas the Texas Senate Bill 21 particularly establishes a Bitcoin-only reserve.
Then again, Arizona’s HB 2749 solely permits the creation of a digital asset reserve from unclaimed property.
Florida lawmaker filed one other crypto invoice this week
Barnaby can also be in search of to ease regulatory necessities for stablecoin issuers in Florida, filing HB 175 to make clear that acknowledged cost stablecoin issuers shouldn’t be required to acquire separate licenses or registrations.
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The invoice requires stablecoin issuers to be totally collateralized with US {dollars} or treasurys and to conduct a public audit of these reserves no less than as soon as a month.
Like HB 183, Barnaby is aiming for the stablecoin invoice to take impact on July 1, 2026.
California acknowledges crypto property rights
Final Saturday, California Governor Gavin Newsom signed a brand new legislation protecting unclaimed crypto from being robotically offered, guaranteeing that digital belongings are preserved of their authentic kind as a substitute of being transformed to money earlier than being transferred to state custody.
The California SB 822 permits crypto account holders to get better their authentic crypto by submitting a legitimate declare with the California State Controller.
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