Florida Bitcoin Reserves and Cryptocurrency Laws

Florida Bitcoin Reserves and Cryptocurrency Legislation

Florida Bitcoin Reserve Overview

No Official Reserves
Friendly Regulatory Status
Supportive of Crypto Innovation

Florida Bitcoin Reserves

Florida Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Florida (FL)	No Official Reserves	0%	Friendly	2025-05-06	Florida Money Laundering Act (F.S. 896.101): Defines virtual currency as a medium of exchange; crypto transactions subject to anti-money laundering regulations SB 292 (2025): Establishes regulatory framework for virtual currency kiosk businesses, requiring registration and user protections HB 487 & SB 550 (2025): Proposed allowing state funds to invest up to 10% in Bitcoin; bills indefinitely postponed and withdrawn No state income tax; federal capital gains tax (15–20%) applies to crypto earnings ~1.2M residents (~5% of population) use crypto; $10B in transactions (2023–2024, est.) Supportive environment for crypto businesses; Miami hosts major crypto conferences (e.g., Bitcoin 2024) Over 200 Bitcoin ATMs, primarily in Miami, Tampa, and Orlando (2024) No specific legislation for state-held Bitcoin reserves as of 2025

Florida Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

Florida has withdrawn proposals to establish a state Bitcoin reserve, with House Bill 487 and Senate Bill 550 indefinitely postponed in May 2025. Despite this, Florida maintains a crypto-friendly environment with no state income tax, robust anti-money laundering regulations, and support for blockchain innovation, particularly in Miami, a hub for cryptocurrency activities.

No funds have been allocated for Bitcoin reserves. Florida prioritizes regulatory clarity and private-sector crypto growth over state-held cryptocurrency reserves.

5/6/2025

BILLS WITHDRAWN

House Bill 487 and Senate Bill 550, which proposed allowing state-managed public funds to invest up to 10% in Bitcoin, were indefinitely postponed and withdrawn from consideration.

3/24/2025

SIGNED INTO LAW

SB 292 established a regulatory framework for virtual currency kiosk businesses, enhancing user protections and requiring registration.

2/14/2025

PROPOSED

House Bill 487 and Senate Bill 550 introduced to allow state funds to invest in Bitcoin, with a proposed effective date of July 1, 2025, but later withdrawn.

Florida Bitcoin Reserves and Cryptocurrency Legislation

Florida Bitcoin Reserve Overview