Florida is making a fresh attempt to allow public funds investment in cryptocurrencies. State Representative Webster Barnaby has introduced House Bill 183 to replace his earlier failed bill.
This new proposal aims to let Florida invest in Bitcoin, crypto ETFs, NFTs, and other digital assets. With stricter rules and broader options, it strives to balance innovation and safety. The bill targets a July 1, 2026 start date, signaling Florida’s continued push toward a stronger role in digital finance.
Expanding Beyond Bitcoin
Unlike the original Bitcoin-only bill, HB 183 allows the state and some public entities to allocate up to 10% of their funds into a diverse range of digital assets. This expansion offers safer alternatives like crypto ETFs, which may reduce volatility.
New custody and documentation requirements strengthen oversight, addressing past critics’ concerns. Such measures include FDIC-insured bank storage and monthly audits for asset security. The bill aims to protect public money while embracing modern investment options.
Earlier Failure and Context
Barnaby’s first bill in early 2025 faced skepticism because it focused solely on Bitcoin, known for its price swings. Despite unanimous subcommittee support, broader doubts about crypto risks and timing left it stalled in the legislature.
Only three states Arizona, New Hampshire, and Texas passed Bitcoin reserve laws in 2025. Florida’s setback showed mixed feelings about crypto in public funds but did not deter Barnaby’s efforts. He remains optimistic about Florida’s fintech future and its place in crypto innovation.
Stablecoin Legislation
Alongside HB 183, Barnaby also introduced HB 175 to regulate stablecoin issuers, easing licensing rules while requiring full collateral backing and monthly audits. This complements HB 183 by supporting a safer crypto ecosystem in Florida.
Elsewhere, California recently protected unclaimed crypto from automatic liquidations, highlighting growing attention to digital asset rights nationwide. Florida’s combined approach of diverse digital assets and stablecoin regulation aims to create a clear and secure path for crypto adoption.
Personal Takeaway
The renewed bill shows Florida’s learning curve in handling crypto risks while pushing for financial innovation. Expanding beyond just Bitcoin is a smart move given market volatility. If successful, Florida could set a strong example for other states aiming to blend public fund safety with digital asset strategy.
Watching how regulators balance innovation with caution will be key as July 2026 approaches. It’s an exciting time for crypto in Florida, with the potential to reshape state-level investment norms.
Written By Fazal Ul Vahab C H