Key Highlights
Florida’s Senate passed SB 314 on March 5, 2026, and the House advanced the companion HB 175, sending the package to Gov. Ron DeSantis.
The bills create licensing and consumer-protection rules for payment stablecoin issuers, aligned with the federal GENIUS Act.
The framework includes a conditional ban on paying interest/yield to holders if federal rules prohibit it, and sets oversight through Florida’s Office of Financial Regulation (OFR), with some issuers facing joint supervision with the OCC.
Florida lawmakers have approved a new state framework for payment stablecoins, positioning SB 314 for Gov. Ron DeSantis’ signature in the coming weeks. The Senate approved the measure on March 5, and the House moved the companion bill, HB 175, through the final steps.
The bills establish requirements for “qualified payment stablecoin issuers,” including licensing (or exemptions), compliance standards, and consumer-protection rules. Supporters say the structure is meant to mirror the federal GENIUS Act, which was signed into law in July 2025 and is now being implemented through federal rulemaking.
The framework also addresses stablecoin incentives. Under the text described in reporting, qualified issuers would be barred from paying interest or yield to stablecoin holders if federal law prohibits those payments.
On supervision, issuers based outside Florida would need to notify the state’s Office of Financial Regulation before operating, and oversight would vary by issuer structure. Some issuers would fall under OFR supervision, while others would be subject to joint supervision with the Office of the Comptroller of the Currency under the federal banking supervision.
Lawmakers also advanced a separate measure, SB 1440, that expands confidentiality protections for certain trade secrets and non-public information obtained by OFR during examinations and investigations related to covered financial businesses.
