Florida Moves to Create Bitcoin Reserve With 10% Public Fund Cap
Florida has introduced two bills, HB 183 and SB 1038, to establish a Strategic Bitcoin Reserve, allowing the state to invest up to 10% of certain public funds—including the General Revenue Fund and state pension assets—into Bitcoin, Bitcoin ETFs, and tokenized securities. The move, aimed at portfolio diversification, includes strict custody rules and requires immediate conversion of crypto tax payments to U.S. dollars. Supported by state leadership, the initiative aligns with a growing trend among U.S. states adopting Bitcoin reserves. If passed, the measures will take effect in July 2026.
TheNewsCrypto01/08 12:48