In brief
- The Florida State Senate passed Senate Bill 314 unanimously on Friday, positioning Florida to join other states with local stablecoin regulations.
- Florida Governor Ron DeSantis plans to review the legislation in its final form once it’s “delivered to his desk,” a spokesperson told Decrypt.
- The bill folds stablecoins into Florida’s existing anti-money laundering laws by defining them as a form of “monetary value.”
Florida moved closer to becoming the latest U.S. state to enact stablecoin rules at the local level, following the State Senate’s passage of Senate Bill 314 on Friday.
Sam Armes, founder and President of the Florida Blockchain Business Association, described Senate Bill 314’s passage as a historic moment on X. He believes the bill will be signed by Florida Governor Ron DeSantis, a crypto advocate, within the next 30 days.
A spokesperson for DeSantis told Decrypt that the governor has not yet received the bill from the legislature. “Once delivered to his office, he will review it in its final form,” she added.
The measure, which passed unanimously on Friday, folds stablecoins into the Sunshine State’s existing regulations by explicitly defining them as a form of “monetary value” under the Florida Control of Money Laundering in Money Services Business Act.
The legislation meanwhile authorizes the…
