Florida crypto reserve bill reintroduced with stricter standards

Florida’s revised crypto reserve bill could give the state the green light to invest in Bitcoin and other digital assets. The new proposal, House Bill 183, marks a reboot of Florida’s push to include cryptocurrencies in public fund portfolios.

Filed by Representative Webster Barnaby, the bill allows the state and public entities to invest up to 10% of their holdings in digital assets. These include Bitcoin, crypto ETFs, NFTs, and other blockchain-based products.

The proposal replaces Barnaby’s earlier HB 487, which failed in June. But this time, HB 183 adds stricter custody, documentation, and fiduciary standards for digital asset management.

Florida expands digital asset investment options

One of the most significant updates in HB 183 is the broader definition of investible digital assets. The earlier version focused on Bitcoin, while the new bill now includes a wider range of crypto instruments. This approach could help Florida diversify its digital asset portfolio if the measure becomes law.

The bill would take effect on July 1, 2026, authorizing the State Board of Administration to invest pension and other trust funds in approved digital assets.

Only three state Bitcoin reserve bills have passed

So far, only a few U.S. states have succeeded in establishing Bitcoin reserve bills. During the 2025 legislative session, many similar efforts were introduced nationwide, but only three states – Arizona, New Hampshire, and Texas – managed to enact their bills into law.

New Hampshire’s HB 302 permits up to 5% of public funds to be invested in large-market-cap digital assets, currently limited to Bitcoin. Texas passed Senate Bill 21, establishing a Bitcoin-only reserve, while Arizona’s HB 2749 allows digital asset reserves only from unclaimed property.

Florida lawmaker proposes new stablecoin bill

Barnaby also filed House Bill 175, targeting stablecoin regulation. The proposal aims to simplify licensing requirements for recognized payment stablecoin issuers in Florida.

Under HB 175, issuers must maintain full reserves in U.S. dollars or Treasury assets and provide monthly public audits. Like the crypto reserve bill, this proposal would take effect on July 1, 2026.

California strengthens crypto property protections

California is also advancing digital asset legislation. Governor Gavin Newsom recently signed SB 822, which safeguards unclaimed crypto from being automatically sold. The new law ensures that digital assets remain in their original form when transferred to state custody.

Under SB 822, account holders can reclaim their crypto by submitting a valid claim to the California State Controller, keeping digital property rights intact.