Florida passes the first state-level stablecoin regulation bill in the United States

According to The Block, the Florida legislature passed the SB 314 bill with a vote of 37 in favor and zero against, making it the first state in the U.S. to establish a state-level regulatory framework for stablecoins.

The bill will align with the federal GENIUS Act standards, requiring stablecoin issuers to comply with anti-money laundering regulations, prohibiting unlicensed issuance, and clearly stating that stablecoins are not considered securities. The bill is expected to be signed into law by Governor Ron DeSantis within 30 days.