Florida lawmakers have introduced legislation to allow the state to invest public funds in digital assets like Bitcoin and accept cryptocurrency for tax payments, aligning with a growing trend among U.S. states to integrate digital currencies into their financial operations.
The proposed measure, House Bill 183 (HB 183), would authorize the state’s Chief Financial Officer (CFO) to invest up to 10% of specific public and pension funds in digital assets and related exchange-traded products (ETPs). These funds include the General Revenue Fund, the Budget Stabilization Fund, and other fiduciary accounts.
Additionally, the bill would empower the State Board of Administration to invest up to 10% of the Florida Retirement System Trust Fund in similar assets.
The legislation defines digital assets broadly, encompassing Bitcoin, tokenized securities, and non-fungible tokens (NFTs). It stipulates strict custody rules, allowing assets to be held directly by the CFO, a qualified custodian, or through SEC-registered exchange-traded funds (ETFs).
Proponents frame Bitcoin as a potential store of value and a hedge against inflation for state funds, aiming to bolster Florida’s image as a financial and technology hub. The bill also cites a federal executive order from March 2025 that established a “Strategic Bitcoin Reserve” as political context for the state’s initiative.
Another key provision of HB 183 would enable Floridians to pay certain state taxes and fees using digital assets. These payments would be automatically converted into U.S. dollars and transferred to the state’s general fund, ensuring accounting stability while offering a cryptocurrency payment option.
The move by Florida reflects a broader national trend in 2025, with states such as Arizona, New Hampshire, and Texas having already passed similar pro-Bitcoin legislation earlier in the year.
Julian Fahrer, founder of Bitcoin Laws, noted that over 50 Bitcoin reserve bills were introduced nationwide this year, with more expected in 2026. Many proposed bills did not advance due to state legislative sessions concluding.
Treasury Secretary Scott Bessent clarified in August that the federal Strategic Bitcoin Reserve would consist solely of bitcoins seized by the government, not new purchases. However, Bessent stated that this clarification “validated the concept and pressured states to catch up,” fueling state-level enthusiasm.
If approved, HB 183 would take effect on July 1, 2026. The bill is currently awaiting assignment to committees and subsequent hearings in the state House. It would require approval from both the House and Senate, along with the governor’s signature, to become law.