Florida House Republicans have introduced an amended bill that would allow the state to invest in digital assets such as Bitcoin and cryptocurrency ETFs, after the state’s governing subcommittee withdrew its first attempt in June.
Florida House Bill 183 would allow states and certain public entities to invest up to 10% of their funds in digital assets such as Bitcoin (BTC), cryptocurrency trading products, crypto securities, non-fungible tokens, and other blockchain-based products, according to a new bill filed Wednesday by Florida Rep. Webster Barnaby.
The new virtual currency reserve bill is similar to Webster’s HB 487, which was repealed in June, but adds new custody, documentation, and fiduciary standards for holding and lending digital assets.
Another important addition Barnaby made was to expand investable digital assets from just Bitcoin to a broader range of crypto assets, giving Florida more flexibility to diversify its digital asset holdings if the bill passes.
HB 183 is scheduled to take effect on July 1, 2026, and would authorize the State Board of Governors to invest pension and other trust funds in digital assets.
Bitcoin preparation bills passed in only 3 states
During the 2025 legislative session, a flurry of Bitcoin and digital asset reserve bills were introduced in state legislatures. However, the majority were rejected, and only three bills passed, in Arizona, New Hampshire, and Texas.
New Hampshire’s HB 302 allows the Secretary of the Treasury to invest up to 5% of public funds in digital assets (currently only Bitcoin) with a market capitalization of over $500 billion, while Texas Senate Bill 21 specifically establishes a Bitcoin-only reserve fund.
Arizona’s HB 2749, on the other hand, only allows the creation of digital asset reserves from unclaimed property.
Florida lawmakers introduce new cryptocurrency bill this week
Burnaby also seeks to ease regulatory requirements for stablecoin issuers in Florida, filing HB 175 to clarify that accredited payment stablecoin issuers are not required to obtain separate licenses or registration.
Related: Bank of England reveals stablecoin restriction plan is temporary
The bill would require issuers of stablecoins to be fully collateralized by the U.S. dollar or Treasury, and to conduct a public audit of their reserves at least once a month.
Similar to HB 183, Burnaby aims for the stablecoin bill to take effect on July 1, 2026.
California recognizes property rights in virtual currencies
Last Saturday, California Governor Gavin Newsom signed new legislation that protects the automatic sale of unclaimed cryptocurrencies and ensures that digital assets are stored in their original form, rather than converted to cash, before being transferred to state custody.
California SB 822 allows cryptocurrency account holders to recover their original cryptocurrency by filing a valid claim with the California Department of Control.
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