Florida passes first state stablecoin regulation

Florida passed the first state stablecoin law, requiring licensing, consumer protections, and AML compliance. It aligns with federal rules, excludes qualified stablecoins from securities status, and awaits the governor's signature.

Florida lawmakers have unanimously passed Senate Bill 314, establishing the first comprehensive state-level regulatory framework for stablecoins in the U.S. This new law introduces licensing requirements, consumer protection measures, and financial stability rules for payment stablecoin issuers operating in Florida. The bill amends existing money services and anti-money laundering laws to explicitly include stablecoins, aligning with the federal GENIUS Act. It prohibits unlicensed stablecoin issuance and clarifies that qualified payment stablecoins are not considered securities. Oversight will be handled by the Office of Financial Regulation, with potential for joint supervision with federal authorities. Additional provisions include confidentiality for crypto firms and restrictions on paying interest to holders if prohibited by federal law. The framework aims to provide legal certainty and a structured environment for digital currency businesses, with implementation set to begin after the governor's signature and a phased rollout starting July 18, 2026.