Florida lawmaker reboots crypto reserve bill after the first one flopped
A Florida lawmaker has refiled a bill allowing state investment in digital assets, addressing previous concerns with new standards.Summary
Florida Representative Webster Barnaby has reintroduced a bill (HB 183) to allow the state and public entities to invest up to 10% of their funds in digital assets, including Bitcoin, crypto ETFs, and NFTs. This revised bill follows the withdrawal of his initial attempt (HB 487) in June and incorporates new custody, documentation, and fiduciary standards. The updated bill expands investible assets beyond Bitcoin, offering greater diversification. If passed, the bill would take effect on July 1, 2026, authorizing the State Board of Administration to invest pension and trust funds. Alongside this, Barnaby filed HB 175 to clarify regulations for stablecoin issuers, requiring full collateralization and monthly audits. This comes after California recently passed a law protecting unclaimed crypto assets.
(Source：Cointelegraph)