In October 2025, Florida Representative Webster Barnaby filed House Bill 183 (HB 183), a legislative proposal that seeks to allow the state to invest up to 10% of its public funds in digital assets, including Bitcoin, crypto exchange-traded funds (ETFs), tokenized securities, and other blockchain-based products. (coincentral.com)
This move marks Florida’s renewed effort to establish a state crypto reserve, following the withdrawal of a similar proposal, House Bill 487, in June 2024. (coincentral.com)
Investment Details and Custody Requirements
Under HB 183, the Chief Financial Officer (CFO) would be authorized to allocate up to 10% of specified state-held accounts into digital assets. The bill outlines strict custody and management rules, including direct state custody, accounts with qualified custodians, or investments through SEC-registered ETFs. These measures aim to mitigate custody and regulatory risks associated with holding digital assets. (mexc.com)
Investor Identification, Introduction, and negotiation.
Clarification for Stablecoin Issuers
In addition to the crypto reserve proposal, Representative Barnaby introduced House Bill 175 (HB 175), which seeks to clarify regulations for stablecoin issuers. The bill proposes exempting recognized payment stablecoin issuers from additional licensing requirements, provided they maintain full collateralization in U.S. dollars or U.S. Treasury securities and conduct monthly reserve audits. (dig.watch)
Effective Date and Legislative Process
If passed, both HB 183 and HB 175 would take effect on July 1, 2026. The bills are currently awaiting committee assignments and hearings in the Florida House. They would require Senate approval and the governor’s signature to become law. (coincentral.com)
Context and Implications
Florida’s renewed effort to establish a state crypto reserve aligns with a broader trend of state-level initiatives to integrate digital assets into public financial strategies. However, the success of such proposals remains uncertain, as evidenced by the withdrawal of similar bills in other states. (cryptonews.com.au)
The outcome of Florida’s legislative process will be closely watched, as it could set a precedent for other states considering similar measures.
References
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Digital Watch Observatory. (2025, October 17). Florida renews effort to create state crypto reserve. (dig.watch)
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MEXC News. (2025, October 17). Florida’s HB 183 Could Let State Hold Bitcoin as Treasury Reserve and Accept Digital Asset Tax Payments. (mexc.com)
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CoinCentral. (2025, October 17). Florida Takes Second Shot at Bitcoin Reserve After First Bill Collapsed. (coincentral.com)
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GNcrypto News. (2025, October 17). Florida revives crypto reserve push with pensions rules. (gncrypto.news)
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Benzinga. (2025, May 6). Florida Presses Pause On Bitcoin Reserve Bill: Here’s What Happened. (benzinga.com)
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Cryptonews.com.au. (2025, May 7). Bitcoin Reserve Bills Face Setbacks as Florida Joins Growing List of Rejecting States. (cryptonews.com.au)
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Cryptopolitan. (2025, May 6). Florida permanently abandons all Bitcoin reserve plans, rejecting both bills. (cryptopolitan.com)
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Bitcoin Sistemi. (2025, June 5). US State Takes Step Back for Bitcoin! Bitcoin Reserve Bill Shelved! Here Are the Details. (en.bitcoinsistemi.com)
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XT.com. (2025, October 17). Florida Lawmakers Push for Crypto Reserve Strategy at 2026 Legislative Session. (xt.com)
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Florida House of Representatives. (2025). HB 183. (flsenate.gov)
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Florida Senate. (2025). SB 550. (flsenate.gov)
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Congressman Byron Donalds. (2025, March 14). Contact: Daniel First. (donalds.house.gov)
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Wikipedia. (2025). U.S. Strategic Bitcoin Reserve. (en.wikipedia.org)
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