The Florida State Senate has passed a bill to regulate stablecoins. It creates a clear set of rules

Florida Senate Unanimously Passes Stablecoin Bill, Sends to Governor DeSantis for Signature

Florida just took a big step toward becoming a stablecoin-friendly state. The state Senate voted 37-0 to pass Senate Bill 314, which sets up a regulatory framework for payment stablecoin issuance. The companion House Bill 175 is also in the pipeline, and both now head to Governor Ron DeSantis, who has 30 days to sign.

The bill is built on the federal GENIUS Act—signed into law last July—and lays out consumer protection rules and financial stability guardrails. Here's what's in it:

• Updates the anti-money laundering rules to include stablecoins, so issuers have to follow existing laws and can't operate without a license.

• Makes it clear: certain payment stablecoins are not securities.

• Out-of-state issuers that qualify have to file a written notice with Florida's Office of Financial Regulation.

• Some stablecoins will be regulated just by the state OFR; others will share oversight with the federal OCC.

One notable restriction: issuers can't pay interest to stablecoin holders if federal law says no. So that door stays closed for now.

Also passed the same day: CS/CS/SB 1440, which tightens confidentiality around info from virtual currency businesses and stablecoin issuers—basically protecting trade secrets and anything not meant for public eyes.