Florida Home Consultant Webster Barnaby has launched a revised digital asset reserve invoice, HB 183, following the failure of his earlier proposal in June.
This new invoice would allow the state and sure public entities to speculate as much as 10% of their funds in digital belongings, together with bitcoin, exchange-traded merchandise, securities, non-fungible tokens, and different blockchain-based belongings.
Key modifications to the Florida invoice
In contrast to the sooner try, HB 183 broadens the scope from a bitcoin-only reserve to a wider vary of digital belongings and incorporates stricter custody, documentation, and fiduciary necessities.
The invoice, if enacted, would take impact July 1, 2026, authorizing the State Board of Administration to allocate pension and belief funds into digital belongings.
For context, different states resembling Texas and New Hampshire have additionally enacted bitcoin reserve legal guidelines, with New Hampshire permitting as much as 5% of public funds to be invested in digital belongings with substantial market capitalization—at present solely bitcoin.
Combined outcomes for state bitcoin reserve payments
Regardless of a wave of legislative proposals in 2025, solely three states—Arizona, New Hampshire, and Texas—have efficiently handed bitcoin or digital asset reserve payments.
Texas established a bitcoin-only reserve, whereas Arizona’s regulation is proscribed to unclaimed property.
Most different state efforts didn’t progress previous committee.
Further stablecoin laws in Florida
Barnaby additionally filed HB 175 to make clear that acknowledged cost stablecoin issuers in Florida wouldn’t want separate licenses or registrations.
The invoice mandates that stablecoin issuers keep full collateralization in US {dollars} or treasurys and bear month-to-month public audits of reserves.
Like HB 183, this invoice goals for a July 1, 2026 efficient date.
California addresses unclaimed digital asset property
In associated authorized developments, California Governor Gavin Newsom lately signed SB 822, which prevents unclaimed digital belongings from being routinely liquidated.
As an alternative, digital belongings have to be preserved of their unique type till claimed by their rightful proprietor, permitting for restoration by means of the California State Controller.