Florida Senate Approves First Stablecoin Bill, Awaits DeSantis’ Signature

The Florida Senate unanimously approved Senate Bill 314, which establishes a state-level regulatory framework for payment stablecoins, sending it to Governor Ron DeSantis for final approval, expected within 30 days. The legislation amends the state's money laundering law to explicitly include stablecoins, requiring issuers to comply with existing financial regulations and banning unlicensed issuance. It also clarifies that certain payment stablecoins will not be classified as securities. Oversight will be handled by the Office of Financial Regulation (OFR), sometimes jointly with the Office of the Comptroller of the Currency, and qualified issuers will be prohibited from paying interest or yield if federal rules forbid it. This measure aligns with consumer protection standards similar to the federal GENIUS Act.

(Source：Cointelegraph)