Florida Becomes First US State to Pass Stablecoin Framework Bill

Highlights:

• Florida lawmakers have made history by approving a state-based framework for stablecoin operations. 
• The new bill is awaiting the governor’s signature to become law in Florida. 
• The new legislation focuses mainly on ensuring safe utilization of stablecoins.

Florida Lawmakers have approved a bill that establishes a state framework for Stablecoins, making Florida the first U.S. state to do so. The proposal, known as Senate Bill 314, passed the Florida Senate on Thursday. Notably, 37 lawmakers voted in support of the bill, while none voted against it. The bill also cleared the Florida House, meaning it only needs Governor Ron DeSantis’ signature to become law. Meanwhile, reputable sources reported that the governor will likely sign the bill within 30 days. 

New Law Aims to Make Stablecoins Safe at All Levels

 Samuel Armes, founder of the Florida Blockchain Business Association, shared the news on social media. He stated that Florida made history by becoming the first state in the US to pass a stablecoin framework. For context, the new law aims to set clear rules for Florida-based companies that are issuing payment stablecoins. It also focuses on consumer protection and financial stability. 

BITCOIN HISTORY WAS JUST MADE IN FLORIDA

We are now the FIRST STATE to Pass a Stablecoin framework in the nation!

It has now passed the Senate and the House, and will be signed by DeSantis within the next 30 days!

How was this able to happen? Well, because we are literally… pic.twitter.com/KA3odWMPzA

— Samuel Armes (@samuelarmes) March 6, 2026

At the same time, the new law aligns with the federal GENIUS Act, a stablecoin law passed by Congress in July 2025. Under the bill, Florida will update its Control of Money Laundering in Money Services Business Act to cover stablecoins. This means that companies issuing stablecoins must follow the same rules that apply to other money service businesses. 

In addition, the new law makes it illegal to issue stablecoins in the state without proper approval. The legislation also clearly stated that certain payment stablecoins should not be treated as securities. This will help define how these tokens are regulated. Companies that intend to issue payment stablecoins must apply by sending a written notice to the Florida Office of Financial Regulation (OFR). 

Notably, a section of the new bill addresses interest payments. It stipulates that stablecoin issuers should not pay interest to holders if such payments are banned under federal law. Overall, regulatory oversight will depend strongly on the type of stablecoin. Some of them will be supervised solely by Florida’s Office of Financial Regulation. On the other hand, the Office of the Comptroller of the Currency (OCC), a leading federal banking regulator, will participate in the monitoring of other stablecoins.

Florida Lawmakers Approve a Separate Bill Centred on Confidentiality

Apart from the stablecoins bill, Florida Lawmakers approved a related bill, CS/CS/SB 1440. This bill expands confidentiality protections for certain information handled by the Office of Financial Regulation. Its main aim is to protect sensitive data related to virtual currency companies, stablecoin issuers, and trust companies that issue stablecoins. Supporters of this bill believe that it will strengthen Florida’s position as one of the leading centres for Bitcoin and crypto activities in the United States. 

🚨JUST IN: FIRST STATE-LEVEL STABLECOIN BILL PASSES IN FLORIDA

Senate Bill 314 passed a State Senate vote on Thursday with 37 votes in favor and zero opposition. SB 314 looks to create a framework for payment stablecoin issuers in the state, including consumer protections and… pic.twitter.com/OTxBM7N1ds

— BSCN (@BSCNews) March 6, 2026

While Florida has progressed with its new stablecoin framework, federal regulations have been facing delays. For example, lawmakers in Washington have been trying to pass a wider crypto market bill known as the CLARITY Act, but the Senate has not yet cleared it. The main point of disagreement revolves around stablecoins that offer yield or interest to users. 

Earlier this week, US President Donald Trump slammed major US banks. Writing in a social media post, he called them out for intentionally delaying the approval of the GENIUS Act. “Banks should not undercut the GENIUS Act, or hold the CLARITY Act hostage. They need to make a deal with the Crypto Industry because it is in the best interest of citizens,” Trump wrote on Truth Social.