Florida Senate Unanimously Passes Stablecoin Bill, Awaits DeSantis’ Signature

Stablecoins maintain their value through backing by assets such as the U.S. dollar and are increasingly used for payments and settlement, putting issuers’ reserves, redemption practices and money-laundering risks under regulatory scrutiny. Florida’s bill builds on the federal GENIUS Act, which took effect in July 2025, and directs the Florida Office of Financial Regulation to establish a state framework for issuing and overseeing payment stablecoins.

On March 5, 2026, the Florida Senate approved HB 175, the companion bill to SB 314, by a 37–0 vote. The state House had passed it 102–2 on March 3. The bill prohibits unlicensed issuance and requires records to be retained for transactions exceeding $10,000. At the time, Governor Ron DeSantis was expected to sign it within 30 days.