The Florida legislature has just passed the first state-level Florida stablecoin law, which is now awaiting the signature of Governor Ron DeSantis. Samuel Armes, founder of the Florida Blockchain Business Association, confirmed that Senate Bill 314 (SB 314) received unanimous support in the Senate, consolidating a regulatory framework for issuers of dollar-linked assets.
This legislative milestone integrates payment stablecoins into the state’s Money Laundering Control Act, requiring strict licensing and ensuring consumer protections. By aligning with the federal GENIUS Act, the regulation clarifies that these assets will not be considered securities, provided they meet the financial stability and supervision standards of the Office of Financial Regulation (OFR).
The community will be monitoring the implementation of confidentiality measures to protect the trade secrets of crypto firms, as well as the prohibition on paying interest if not permitted by federal law. DeSantis is expected to ratify the measure within the next 30 days, potentially turning Florida into a blueprint for other states in the regulation of the digital economy.
Source: https://x.com/samuelarmes/status/2029971078341067249
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