A Republican from the Florida House has submitted an updated bill allowing the state to invest in digital assets, including Bitcoin and crypto ETFs, after his initial proposal was withdrawn in June by Florida’s operations subcommittee.
The Florida House Bill 183 would permit the state and select public entities to invest up to 10% of their funds in digital assets such as Bitcoin (BTC), crypto exchange-traded products, crypto securities, non-fungible tokens, and other blockchain-based products, as detailed in the new bill introduced by Florida lawmaker Webster Barnaby on Wednesday.
This new crypto reserve bill mirrors Webster’s HB 487, which was defeated in June, but incorporates new standards for custody, documentation, and fiduciary responsibilities regarding the holding and lending of digital assets.
Another significant enhancement made by Barnaby is the expansion of investable digital assets beyond just Bitcoin, allowing Florida greater flexibility to diversify its digital asset investments if the bill is passed.
HB 183 is proposed to take effect on July 1, 2026, and would empower the State Board of Administration to invest pension and other trust funds in digital assets.
Only three state Bitcoin reserve bills have been passed
A series of Bitcoin and digital asset reserve bills were introduced in state legislatures during the 2025 legislative session; however, most were unsuccessful, with just three bills from Arizona, New Hampshire, and Texas being enacted into law.
New Hampshire’s HB 302 allows the treasurer to invest up to 5% of public funds in digital assets with market caps exceeding $500 billion — currently just Bitcoin — while the Texas Senate Bill 21 establishes a Bitcoin-only reserve.
Conversely, Arizona’s HB 2749 only authorizes the creation of a digital asset reserve from unclaimed property.
Florida lawmaker introduced another crypto bill this week
Barnaby is also working to simplify regulatory requirements for stablecoin issuers in Florida, filing HB 175 to clarify that recognized payment stablecoin issuers do not need separate licenses or registrations.
Related: Bank of England clarifies plan to limit stablecoins is temporary
The bill mandates that stablecoin issuers be fully collateralized with US dollars or treasuries and require a public audit of these reserves at least monthly.
Similar to HB 183, Barnaby is targeting for the stablecoin bill to take effect on July 1, 2026.
California recognizes crypto property rights
Last Saturday, California Governor Gavin Newsom enacted a new law protecting unclaimed crypto from being automatically liquidated, ensuring digital assets remain intact in their original form rather than converted to cash before being transferred to state management.
The California SB 822 enables crypto account holders to reclaim their original crypto by submitting a valid claim to the California State Controller.
Magazine: Back to Ethereum: How Synthetix, Ronin and Celo saw the light
