Florida Revives Bitcoin Reserve Plan for 2026 – But With a Major Cutback

The Florida legislators are taking steps to revive a state-funded Bitcoin reserve to be launched in 2026, though the brand new try has a far more restricted scope than earlier ones that failed in 2021.

The most up-to-date invoice, introduced on the shut of December, seems to be extra like a restart than a follow-up, eradicating ambition however growing the rules round what the state can have, in truth.

Florida Pushes Bitcoin-Only Approach in State Crypto Reserve Plan

Senate Bill 1038 is sponsored by Republican Senator Joe Gruters and was submitted on Dec. 30, 2025, and formally registered in committee evaluate on Jan. 7, 2026.

Legislative data present the invoice has been referred to the Senate Banking and Insurance Committee, the Appropriations Committee on Agriculture, Environment, and General Government, and the Appropriations Committee.

It should clear these hearings earlier than advancing to the Senate flooring, and if adopted alongside associated laws, the measure would take impact on July 1, 2026.

The proposal would authorize the creation of a Florida Strategic Cryptocurrency Reserve to be administered by the state’s Chief Financial Officer.

Under the invoice, the CFO could be permitted to buy, maintain, handle, trade, and liquidate cryptocurrency utilizing requirements just like these utilized to public belief belongings.

While the laws avoids naming particular tokens, it units a strict eligibility rule: any cryptocurrency acquired will need to have maintained a median market capitalization of not less than $500 billion over the earlier 24 months.

That requirement successfully limits the reserve to Bitcoin and marks a sharp distinction with Florida’s earlier makes an attempt.

Crypto Reserve Plan Gets a Reset in Florida’s 2026 Legislative Session

During the 2025 legislative session, House Bill 487 and Senate Bill 550 sought to determine a broader framework for digital asset reserves however have been indefinitely postponed and in the end withdrawn.

Those bills did not advance out of committee, ending the trouble solely fairly than trimming it again. The 2026 proposals, together with SB 1038 and associated measures resembling SB 1040, restart the method with new invoice numbers and tighter guardrails.

Florida has develop into the most recent US state to desert efforts to determine a strategic Bitcoin reserve, dealing one other setback.#Bitcoin #Reservehttps://t.co/kRZo2V0BzE

— Cryptonews.com (@cryptonews) May 6, 2025

The invoice lays out detailed guidelines for custody, oversight, and reporting because it defines key ideas resembling forks, personal keys, and certified custodians. It requires the usage of safe custody methods with encryption, geographic redundancy, multiparty authorization, and common safety audits.

The CFO could be allowed to contract with regulated third events, together with auditors, liquidity suppliers, and custody expertise corporations, and will additionally use authorized spinoff devices if deemed helpful to the reserve.

Spending from the reserve could be restricted to approved investments, non permanent money administration, and affordable administrative prices.

If required by regulation or ordered by the governor, the CFO might liquidate belongings and briefly switch funds to the state treasury, with the expectation that these funds and any earned curiosity could be returned to the reserve.

An advisory committee would even be fashioned, chaired by the CFO and supported by 4 appointed consultants in cryptocurrency funding and digital asset safety.

Bitcoin Reserves Gain Traction Across U.S. States

Beginning on the finish of 2026, the CFO could be required to submit a biennial report back to the legislature detailing holdings, valuation adjustments, and administration actions.

Florida’s renewed push comes as a number of U.S. states experiment with Bitcoin reserve methods.

New Hampshire became the first to pass such a law, permitting investments in digital belongings with market capitalizations above $500 billion.

Texas has taken a donation-based method, working its reserve by means of a devoted fund fairly than direct state shopping for.

More than a dozen different states have launched related proposals, lots of which stay in committee. Oklahoma and Utah have superior their payments, whereas Pennsylvania’s effort stalled.

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