Florida Legislature Approves Senate Bill 314, First US State Stablecoin Framework

Florida lawmakers have approved Senate Bill 314, establishing a state-level regulatory framework for payment stablecoin issuers and awaiting Gov. Ron DeSantis' signature. The measure, aligned with the federal GENIUS Act, revises money laundering rules, sets consumer protection and financial stability requirements, and clarifies that certain payment stablecoins are not securities. A related bill, CS/CS/SB 1440, also passed to strengthen confidentiality protections for virtual currency and stablecoin businesses supervised by the Office of Financial Regulation.