FloridaFlorida department may accept stablecoins for fees and refunds
Florida’s Department of Financial Services may accept approved stablecoins for fees, and participants may choose to receive certain refunds in them.
What it does
People and businesses may choose to pay fees owed to Florida’s Department of Financial Services with approved stablecoins, a type of digital payment designed to keep a steady value.
Participants may choose to receive department refunds and similar payments in approved stablecoins, but they must provide a digital wallet address that can receive them.
After receiving stablecoins for a fee, the department must convert them into U.S. dollars within a reasonable time and credit the usual account, unless a legal exception applies.
The department must track the pilot’s use, costs, security, and other effects, then report its findings and possible next steps to state leaders each year.
Argument forPeople and businesses could have another voluntary way to pay fees owed to the department, using stablecoins that meet the bill’s safeguards.
Argument againstPeople without a compatible digital wallet may not be able to use the optional payment or refund method, and processing fees could apply within the bill’s limits.
More detail
The department may accept approved payment stablecoins for fees it administers. This applies to fees owed to the Florida Department of Financial Services, including licensing, application, renewal, and other regulatory fees. Paying with stablecoins is optional for participants. The stablecoin must meet the bill’s requirements, including backing and redemption rules, and must come from a permitted issuer. The department may not take part unless an eligible federal or state issuer has been approved.
The department may send refunds and similar payments in approved stablecoins to participants who choose that form. This applies to program participants receiving refunds, reimbursements, or similar payments from the department. A participant must choose stablecoins and provide a digital wallet address that can receive them. The department may buy stablecoins as needed. If they earn no interest or other returns, it may hold only an estimated 30 days’ worth of payments. The department may not take part unless an eligible federal or state issuer has been approved.
The department must convert stablecoins received for fees into U.S. dollars and credit the applicable account. This duty covers stablecoins the department receives from participants to pay authorized fees. The department must try to limit any conversion fees. The money goes into the account used for other authorized payments, unless an existing legal exception applies. The department must convert the stablecoins within a reasonable time after receiving them.
The department must track the pilot and report on it to state leaders each year. Reports go to the Governor, Senate President, and House Speaker. The department must collect information on transactions, costs, security incidents, compliance, economic effects, fraud, and disputes. Reports must include findings, recommendations about expanding or ending the pilot, and any proposed legal changes. The first report is due February 1, 2027, with another due annually after that.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 29Chapter No. 2026-175Latest
- Jun 26Approved by Governor Ron DeSantisBecame Law
- Jun 15Signed by Officers and presented to GovernorTo Governor
- Mar 17Ordered enrolledMinor
- Mar 11CS passed; YEAS 108, NAYS 3Passed House
- Vote recorded Passage, Third Reading. Result: pass.Lower
- Mar 11Read 3rd timeMinor
- Mar 11Added to Third Reading Calendar
- Mar 11Read 2nd timeMinor
- Mar 101st Reading (Engrossed 1)Minor
- Mar 10Bill added to Special Order Calendar (3/11/2026)
- Mar 10Bill referred to House Calendar
- Mar 6In Messages
- Vote recorded Third Reading. Result: pass.Upper
- Mar 6CS passed as amended; YEAS 34 NAYS 0Passed Senate
- Mar 6Read 3rd timeMinor
- Mar 6Amendment(s) adopted (548372)
- Mar 6Read 2nd timeMinor
- Mar 4Placed on Special Order Calendar, 03/06/26
- Mar 4Placed on Calendar, on 2nd reading
- Mar 3Favorable by- Rules; YEAS 22 NAYS 0Minor
- Vote recorded Favorable. Result: pass.Upper
- Feb 26On Committee agenda-- Rules, 03/03/26, 9:00 am, 412 Knott Building
- Feb 24CS/CS by Appropriations Committee on Agriculture, Environment, and General Government read 1st time
- Feb 23Now in Rules
- Feb 20Pending reference review under Rule 4.7(2) - (Committee Substitute)
- Feb 18CS/CS by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 11 NAYS 0
- Vote recorded Favorable with Committee Substitute. Result: pass.Upper
- Feb 13On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 02/18/26, 10:30 am, 412 Knott Building
- Feb 10CS by Banking and Insurance read 1st time
- Feb 6Now in Appropriations Committee on Agriculture, Environment, and General Government
- Feb 6Pending reference review under Rule 4.7(2) - (Committee Substitute)
- Feb 4CS by Banking and Insurance; YEAS 10 NAYS 0
- Vote recorded Favorable with Committee Substitute. Result: pass.Upper
- Jan 30On Committee agenda-- Banking and Insurance, 02/04/26, 10:30 am, 412 Knott Building
- Jan 22IntroducedMinor
- Jan 16Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; RulesMinor
- Jan 9FiledIntroduced
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