Florida Senate Passes Stablecoin Bill 314, DeSantis Weighs In

Florida Senate Bill 314 cleared the state's upper chamber without a single dissenting vote on Friday, moving the Sunshine State one signature away from having its own stablecoin regulatory framework — and all eyes are on Governor Ron DeSantis to seal it.

What Is Florida Senate Bill 314?

How does the bill define stablecoins under Florida law?

The bill slots stablecoins into Florida's existing money-services rulebook by formally classifying them as a form of 'monetary value' under the Florida Control of Money Laundering in Money Services Business Act — the same statute that governs conventional wire transfers and payment processors. That's not a minor tweak. It means every licensed money-services business operating in Florida now has a clear legal obligation to treat stablecoin flows the same as fiat, including mandatory record-keeping on any transaction above $10,000.

The Florida Senate Bill 314 also carves out a government-use pilot program, empowering the Florida Department of Financial Services to accept approved stablecoins for state-issued licenses and tax payments — a first for a state of Florida's size. Republican State Senator Colleen Burton told colleagues the legislation is designed to mesh state oversight with the federal dual-track system established under the GENIUS Act.

It's important that we do this today.

Does DeSantis Plan to Sign the Stablecoin Bill?

Sam Armes, founder and President of the Florida Blockchain Business Association, went on record calling the Senate vote a 'historic moment' and predicted DeSantis would put pen to paper within 30 days. A spokesperson for the governor's office confirmed he hasn't received the enrolled bill from the legislature yet. 'Once delivered to his office, he will review it in its final form,' she said in a statement.

DeSantis has a documented record of crypto-friendly governance — he's not the type to sit on a bill like this. The real question is whether Florida's framework, built to align with the GENIUS Act signed by President Trump, becomes the model other states start copying.

Florida Joins a Growing State-Level Stablecoin Race

Texas got here first. Back in 2019, the Lone Star State became the country's initial jurisdiction to classify stablecoins as monetary value under money transmission law — a move later reinforced by its 2023 Money Services Modernization Act, according to analysis from law firm Paul Hastings. Florida is the largest state to push this far, and the political optics couldn't be better timed given Washington's own unresolved stablecoin debates.

If DeSantis signs this, Florida doesn't just get a crypto regulation — it gets a regulatory identity. That distinction matters when companies are deciding where to set up shop.