Florida becomes first US state to pass stablecoin framework

Florida, the southeastern US state that has positioned itself as a leader in digital asset policy, today became the first state in the nation to pass a comprehensive regulatory framework for payment stablecoins.

The legislation now awaits signature from Governor Ron DeSantis, a vocal proponent of crypto-friendly policies who has backed efforts to establish Florida as a hub for blockchain innovation.

The bill establishes a licensing regime for qualified stablecoin issuers while simultaneously launching a pilot program that would allow the state’s Department of Financial Services to accept stablecoin payments for government services.

By structuring the framework to comply with the federal GENIUS Act signed into law by President Trump in July 2025, Florida lawmakers have created a pathway for issuers to operate under state supervision while meeting nationally recognized standards.

Under the framework, qualified stablecoin issuers operating outside Florida must provide written notice to the state’s Office of Financial Regulation before offering services in the state.

The law outlines that some payment stablecoins will fall solely under the supervision of the Office of Financial Regulation, while others will be jointly overseen with the Office of the Comptroller of the Currency at the federal level.

The bill also limits the ability of stablecoin issuers to offer yield to holders. Qualified payment stablecoin issuers will be prohibited from paying interest if such payments are restricted under federal law.