Crypto Law Profile
Florida HB 175 would create a state-qualified payment stablecoin issuer framework tied to GENIUS Act standards; it is enrolled, not chaptered, as of June 4, 2026.
Florida Payment Stablecoin Issuer Regime is a state-level United States profile for CS/CS/HB 175, titled Payment Stablecoin. The bill would create a Florida framework for qualified payment stablecoin issuers under the Florida Money Services Business code and for trust companies seeking approval from the Office of Financial Regulation. As of June 4, 2026, official Florida legislative records still show HB 175 as ordered enrolled on March 5, 2026, with no chapter number identified. The profile therefore treats the measure as passed and enrolled, but not yet in force.
HB 175 is designed to align Florida law with the federal Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act. The bill defines a payment stablecoin as a digital asset designed for payment or settlement where the issuer is obligated to redeem it for a fixed amount of monetary value or creates a reasonable expectation of stable value. It excludes national currency, bank deposits, and securities from that definition.
The Florida framework would create a new Part V of chapter 560, Florida Statutes, titled “Payment Stablecoin Issuers.” It would also create s. 658.997 for trust companies seeking approval to engage in qualified payment stablecoin issuer activity. The state regime is intended to support certification to the federal Stablecoin Certification Review Committee that Florida’s framework is substantially similar to the GENIUS Act.
Beginning October 1, 2026, if the bill becomes law, a person generally could not engage in qualified payment stablecoin issuer activity in Florida unless licensed as a money services business or exempt from licensure. A trust company would need a certificate of approval from OFR unless an exemption applies. Exempt categories include federally qualified payment stablecoin issuers and out-of-state state-qualified issuers for which Florida is a host state, subject to written notice requirements.
The bill would leave certain activities outside the new part, including direct transfers between individuals without an intermediary, certain same-provider transfers between an individual’s U.S. and foreign accounts, and self-custody transactions through software or hardware wallets. It would also provide that a payment stablecoin meeting the bill’s requirements is not a security under Florida chapter 517.
HB 175 would update Florida money-laundering and financial-institution provisions to include payment stablecoins. Qualified issuers would have to comply with federal AML, sanctions, customer-identification, and due-diligence requirements and submit certifications to OFR after approval and annually. The bill also creates a transition mechanism for issuers that reach $10 billion in consolidated total outstanding payment stablecoin issuance, requiring transition to federal joint oversight or a pause on new issuance unless a federal waiver applies.
| Date | Event | Status |
|---|---|---|
| October 15, 2025 | HB 175 filed in the Florida House. | Introduced |
| March 3, 2026 | Florida House passed CS/CS/HB 175 by 102-2. | Passed |
| March 5, 2026 | Florida Senate substituted HB 175 for SB 314 and passed it by 37-0. | Passed |
| March 5, 2026 | HB 175 was ordered enrolled. | Enrolled |
| October 1, 2026 | Most issuer licensing, approval, prudential, and activity-limit provisions would become effective if the bill becomes law. | Future / conditional |
Editors should classify this profile as a Florida state bill/regime profile, not as an enacted Florida statute, unless the official record later shows governor approval, chaptering, or another final disposition.
Would prohibit qualified payment stablecoin issuer activity in Florida unless licensed under chapter 560 or exempt.
Would require Florida trust companies to obtain OFR certificate approval before qualified payment stablecoin issuer activity unless exempt.
Exempts federally qualified and host-state issuers and excludes peer transfers, same-provider account transfers, and self-custody wallet transactions.
Limits issuers to issuing and redeeming stablecoins, managing reserves, reserve custody services, and directly supporting activities.
Requires one-to-one identifiable reserves, redemption policies, fee disclosures, monthly reserve publication, examinations, and certifications.
Requires qualified issuers to comply with federal AML, sanctions, customer-identification, and due-diligence requirements and certify programs to OFR.
Requires transition to federal joint oversight or a pause on new issuance when outstanding issuance reaches $10 billion, unless a federal waiver applies.
Payment Stablecoin bill filed in the Florida House.
Insurance & Banking Subcommittee reported the bill favorably with a committee substitute.
House Commerce Committee reported the bill favorably with a committee substitute.
Florida House passed CS/CS/HB 175 as amended by 102 yeas to 2 nays.
Florida Senate substituted HB 175 for CS/CS/SB 314 and passed the bill by 37 yeas to 0 nays.
The House ordered CS/CS/HB 175 enrolled; no chapter number was identified as of June 4, 2026.
Florida Financial Services Commission, Florida Legislature, Florida Office of Financial Regulation, Stablecoin Certification Review Committee
Digital assets, Payment stablecoins, Stablecoins
State-level Florida bill profile. Treat as passed and enrolled, not enacted or in force, unless later official records show governor approval or chaptering.
