Florida HB 1415: Use of Digital Currency by the Department of Financial Services

Bill Text

CS/CS/HB 1415 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to the use of digital currency by the 2
Department of Financial Services; creating s. 17.72, 3
F.S.; establishing the Florida Stablecoin Pilot 4
Program within the Department of Financial Services; 5
providing legislative intent; providing definitions; 6
authorizing the department to engage in certain 7
activities; authorizing the department to designate 8
one or more payment stablecoins for certain 9
activities; requiring that certain payment stablecoins 10
meet specified criteria; authorizing the department to 11
accept payment stablecoins; authorizing program 12
participants to elect to voluntarily participate in 13
the program and remit payment stablecoins to a 14
compatible digital wallet address; requiring certain 15
participants to provide the department with a 16
compatible digital wallet address; requiring the 17
department to comply with certain requirements; 18
requiring the department to provide a compatible 19
digital wallet address for a specified purpose; 20
authorizing the department to conduct examinations, 21
audits, and investigations of permitted payment 22
stablecoin issuers; requiring the department to 23
coordinate with the Office of Financial Regulation 24
under certain circumstances; requiring the department 25

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to monitor and evaluate the pilot program and collect 26
certain data; requiring the department to submit an 27
annual report containing certain information to the 28
Governor and Legislature, beginning on a specified 29
date and annually thereafter; providing construction; 30
authorizing the department to adopt rules; providing 31
an effective date. 32
33
Be It Enacted by the Legislature of the State of Florida: 34
35
Section 1. Section 17.72, Florida Statutes, is created to 36
read: 37
17.72 Florida Stablecoin Pilot Program.—There is 38
established within the department the Florida Stablecoin Pilot 39
Program. It is the intent of the Legislature that the Florida 40
Stablecoin Pilot Program yield benefits from the acceptance of 41
payment stablecoins as a form of payment for governmental fees 42
through this voluntary pilot program. 43
(1) DEFINITIONS.—As used in this section, the term: 44
(a) "Blockchain" means a mathematically secured, 45
chronological, decentralized, distributed, and digital ledger or 46
database that consists of records of transactions that cannot be 47
altered retroactively. 48

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(b) "Compatible digital wallet address" means the address 49
of a software application that securely stores private keys for 50
accessing and completing transactions with payment stablecoins. 51
(c) "Digital asset" means any digital representation of 52
value that is recorded on a cryptographically secured digital 53
ledger. 54
(d) "Exchange platform" means a company licensed and 55
regulated by the Federal Government or a state government which 56
provides trading, custody, or money transmission services of 57
payment stablecoins or other digital assets. 58
(e) "Exchange platform fee" means a fee charged by an 59
exchange platform for the trading, custody, or money 60
transmission services of payment stablecoins or other digital 61
assets. 62
(f) "Federal qualified payment stablecoin issuer" means 63
any of the following: 64
1. A nonbank entity, other than a state qualified payment 65
stablecoin issuer, approved by the Office of the Comptroller of 66
the Currency to issue payment stablecoins. 67
2. An uninsured national bank that is chartered by the 68
Office of the Comptroller of the Currency pursuant to title LXII 69
of the Revised Statutes and is approved to issue payment 70
stablecoins. For purposes of this subparagraph, the term 71
"national bank" has the same meaning as in the GENIUS Act, Pub. 72
L. No. 119-27. 73

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3. A federal branch that is approved by the Office of the 74
Comptroller of the Currency to issue payment stablecoins. For 75
purposes of this subparagraph, the term "federal branch" has the 76
same meaning as in s. 3 of the Federal Deposit Insurance Act, 12 77
U.S.C. s. 1813. 78
(g) "Network fee" means the cost paid by a user to have a 79
transaction processed and confirmed on a blockchain network. 80
(h)1. "Payment stablecoin" means a digital asset that 81
meets all of the following requirements: 82
a. Is, or is designed to be, used