Florida Passes First U.S. State-Level Framework for Payment Stablecoins

TheNewsCryptoPublished on 2026-03-07Last updated on 2026-03-07

Abstract

Florida has passed the first comprehensive state-level stablecoin regulatory framework in the U.S. The bill, SB 314, establishes clear licensing, operational, and consumer protection rules for payment stablecoin issuers. It requires issuers to be licensed by the state, comply with anti-money laundering (AML) and know-your-customer (KYC) procedures, and submit detailed applications covering financial stability and operational plans. The legislation also clarifies that certain stablecoins are not securities. A companion bill, SB 1440, was passed to ensure the confidentiality of financial information collected from virtual currency businesses. The bill now awaits the governor's signature.

Florida lawmakers passed the first comprehensive bill for regulating stablecoins in the United States that aims to provide clear standards for issuers, monitoring, and consumer protection.

On March 6, the Florida Senate passed Bill 314 with 37 votes in favor and zero opposition, and it is currently awaiting Governor Ron DeSantis’ signature. The bill amends the Florida Control of Money Laundering in Money Services Business Act by explicitly including payment stablecoins inside the state’s regulatory framework.

Also, Samuel Armes, founder of the Florida Blockchain Business Association web3 advocacy group, shared a post on X, “We are now the FIRST STATE to Pass a Stablecoin framework in the nation!”

Licensing and Compliance Rules

Florida Senate Bill 314, along with House Bill 175, creates a framework for payment stablecoin

issuers in the state. According to the Senate Bill overview, it forbids anyone from functioning as a qualified payment stablecoin issuer unless they are licensed by the state or exempt from licensure.

Where individuals or firms seeking a license must submit a complete application to the state office, including information on ownership, financial stability, anti-money laundering procedures, and operational plans for creating and redeeming stablecoins.

The bill brings payment stablecoin issuers under the Florida Money Services Business Act, which already requires them to follow AML (Anti-Money Laundering) rules, which always include KYC procedures.

Further, the House bill overview stated that the Office of the Comptroller of the Currency, a major federal banking regulator, while others be jointly supervised by the Office of the Comptroller of the Currency. Then, specifically, the bill makes it very evident that some payment stablecoins are not securities.

Florida Also Passes Companion Bill

With that, last Friday, the Florida Senate and House passed a companion bil, SB 1440l to ensure the secrecy of certain types of financial information. Specifically, it assures that information gathered by the Florida Office of Financial Regulation (OFR) from virtual currency enterprises, qualified payment stablecoin issuers, and trust organizations serving as such issuers remains private.

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Related Questions

QWhat is the significance of Florida Senate Bill 314 in the context of U.S. cryptocurrency regulation?

AFlorida Senate Bill 314 is significant because it is the first comprehensive state-level bill in the United States to create a regulatory framework specifically for payment stablecoins, providing clear standards for issuers, monitoring, and consumer protection.

QWhat are the key licensing requirements for a qualified payment stablecoin issuer under Florida's new bill?

AThe bill requires any individual or firm seeking to function as a qualified payment stablecoin issuer to be licensed by the state or be exempt from licensure. Applicants must submit a complete application to the state office, including information on ownership, financial stability, anti-money laundering procedures, and operational plans for creating and redeeming stablecoins.

QHow does the bill integrate stablecoin issuers into Florida's existing financial regulatory structure?

AThe bill amends the Florida Control of Money Laundering in Money Services Business Act to explicitly include payment stablecoin issuers within the state's regulatory framework, requiring them to follow existing rules, including Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.

QWhat does the companion bill, SB 1440, aim to achieve?

AThe companion bill, SB 1440, aims to ensure the confidentiality of certain financial information by assuring that data collected by the Florida Office of Financial Regulation (OFR) from virtual currency businesses, qualified payment stablecoin issuers, and trust companies serving as issuers remains private.

QAccording to the bill, are payment stablecoins considered securities?

ANo, the bill makes it explicitly clear that certain payment stablecoins are not considered securities.

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