Florida tries Bitcoin again: How $218B pension bill makes BTC a state asset this time

Florida has introduced a new bill, HB 183, which revives a previous attempt to allow the state to hold digital assets like Bitcoin and regulated ETFs, setting a 10% allocation ceiling for various state funds, including the $218 billion Florida Retirement System Trust Fund. Unlike the prior aspirational gesture, this bill functions as a working blueprint, detailing custody procedures, control mechanisms, and rules for handling private key lapses, requiring assets to remain under continuous control or face a five-day cure period. The bill expands the definition of digital assets and allows for investments via SEC-registered ETFs, positioning the state to potentially allocate billions into crypto if the framework survives scrutiny regarding volatility and fiduciary risk. The core significance lies in creating a legal playbook for sovereign crypto custody, rather than mandating immediate purchases.

(Source：CryptoSlate)