Florida lawmakers have approved a new regulatory framework for payment stablecoins, advancing the legislation to Governor Ron DeSantis for final approval. The measure, known as Senate Bill 314, passed both legislative chambers and is expected to be signed into law within the coming weeks.
Florida Stablecoin Regulation Framework Under SB 314
The legislation expands Florida’s money services laws to formally include stablecoins within the state’s financial regulatory structure. Under the proposal, issuers of payment stablecoins must comply with existing financial oversight requirements, while unlicensed issuance within the state would be prohibited.
Samuel Armes Founder of the Florida Blockchain Business Association said In a Friday post on X;
The bill also clarifies that certain payment stablecoins will not be categorized as securities under state law. Lawmakers say the framework is designed to strengthen consumer protections while providing regulatory clarity for companies operating in the digital payments sector.
Compliance Requirements for Stablecoin Issuers
The updated law requires stablecoin issuers operating outside Florida to notify the state’s Office of Financial Regulation before conducting business. Depending on the issuer’s structure, regulatory oversight could involve state authorities alone or joint supervision with federal financial regulators.
The legislation also addresses potential risks related to stablecoin incentives, preventing qualified issuers from offering interest or yield if federal rules restrict such payments.
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