Florida lawmakers are setting ambitious goals for the upcoming legislative session, with a proposal that could make the Sunshine State one of the first in the 0 hold Bitcoin as a treasury reserve asset 1 proposed legislation, House Bill 183 (HB 183), would authorize the state’s Chief Financial Officer (CFO) to invest public funds in Bitcoin and other digital 2 approved, HB 183 would allow the state CFO to allocate up to 10 percent of any funds in certain state-held accounts into digital 3 Trust Fund of the Florida Retirement System, which the State Board of Administration administers, would be subject to similar guidelines and would allow up to 10 percent investment in accordance with those 4 Bill clarifies what constitutes a digital asset, such as Bitcoin or tokenized securities , but could also encompass non-fungible 5 also imposes tight controls on how those investments can be held and 6 the proposal, the money could either be held directly by a chief financial officer, placed in an account managed by a qualified custodian, or invested in SEC-registered exchange-traded funds (ETFs).
Supporters of the Bill say it is an effort to keep Florida’s financial institutions on the cutting edge and allow for insurance against inflation and loss of confidence in traditional fiat 7 law describes Bitcoin as a store of value, or a potential long-term savings vehicle for public funds, much like the way governments have used 8 passed, the new policy will take effect on July 1, 9 bill also promotes digital integration by permitting Floridians to pay some taxes and fees with digital 10 payments, in turn, would be automatically converted into 11 before being deposited into the state’s general fund, allowing government accounts to remain dollar-based while eliminating any rigidity that may hinder the use of cryptocurrency 12 rush to build Bitcoin reserves as federal momentum grows The action by Florida also comes as several 13 are experimenting with how to integrate Bitcoin into their financial systems .
Arizona, New Hampshire, and Texas all passed laws in early 2025 to hold Bitcoin as part of their states’ 14 in Wyoming, Oklahoma, and Missouri also introduced such proposals, with scores failing after legislative sessions 15 observers view Florida’s proposal as a reflection of a growing state-versus-federal race to determine the future of digital 16 Florida’s bill passes, it could motivate other states to follow suit, particularly those with well-developed tech sectors or large cryptocurrency 17 measure would also bolster Florida’s image as a blockchain-friendly state, following Governor Ron DeSantis’ previous efforts to ban central bank digital currencies (CBDCs) while introducing regulations that are friendly to 18 weigh risks and readiness But despite mounting excitement, critics caution that the move could subject public dollars to volatility and potential legal 19 price of Bitcoin can fluctuate by more than 10% in a week, and it could put taxpayers’ money at risk if states invest in the digital 20 financial watchdogs have also raised concerns about whether public dollars should be invested in an asset class that is largely unregulated and vulnerable to market 21 argue that Bitcoin’s long-term perspective is bullish and safe, and custody of the asset through SEC-regulated ETFs would provide sound risk 22 also contend that the small exposure, limited to 10%, will enable Florida to dip its toe in the water without risking its 23 183 is waiting for assignment to a committee in the Florida 24 will undergo hearings and debate before being moved to the 25 approved by both chambers, the bill would be sent to the governor for 26 the legislative process continues, Florida’s proposal will serve as a test case for whether digital assets can become a legitimate tool of public finance and whether 27 are prepared to manage Bitcoin like a sovereign wealth fund for the digital 28 up to $30,050 in trading rewards when you join Bybit today
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