Florida’s Senate Bill 314 passed both chambers and now sits on Governor Ron DeSantis‘s desk. He has up to 30 days to sign it.
If enacted, Florida would become the first US state with a regulatory structure specifically targeting stablecoins.
The bill requires stablecoin issuers operating in Florida to obtain a license from the Florida Office of Financial Regulation before offering tokens to state residents. Republican Senator Colleen Burton, who sponsored the measure, says it is designed to align state oversight with the federal Genius Act — a law establishing guidelines for dollar-pegged token issuance, including reserve requirements in assets such as US Treasuries and mandatory monthly disclosures.
DeSantis and Florida’s Crypto Track Record
The governor has consistently positioned the state as crypto-friendly. During his presidential campaign, he pledged to defend Bitcoin and digital assets from restrictive regulation.
Florida was also the first state to ban central bank digital currencies. DeSantis argued at the time that government-issued digital money could threaten private cryptocurrencies and expand financial surveillance.
That record suggests a signature is likely, though it is not guaranteed.
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The Broader Stablecoin Debate
Washington remains divided on how far stablecoin regulation should go. A separate congressional proposal, the Clarity Act, has drawn competing pressure from crypto firms and traditional banks.
Coinbase has argued that stablecoin issuers should be permitted to offer rewards to holders. Banking groups counter that such incentives could redirect deposits away from conventional institutions. President Donald Trump recently sided with the crypto industry, saying banks should not interfere with the administration’s pro-crypto policy direction.
Global stablecoin transaction volume reached $33 trillion in 2025 — a 72% increase from the prior year, according to data compiled by Artemis Analytics. USDC led by transaction volume at $18.3 trillion. Tether’s USDT processed $13.3 trillion, while retaining the top position by market capitalization at $187 billion.
Other jurisdictions are moving independently. Japan introduced a stablecoin legal framework in 2023. Hong Kong plans to begin licensing issuers this year. China explored allowing private yuan-pegged tokens in 2025 before halting pilot programs. The People’s Bank of China separately announced that commercial banks will be permitted to pay interest on digital yuan wallet balances starting January 1, 2026 — a move PBOC Deputy Governor Lu Lei said would integrate the e-CNY into banks’ asset and liability operations.
Florida’s bill, according to the announcement, is the first attempt by any US state to build that kind of standalone structure before a comprehensive federal framework is finalized.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial or investment advice.
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