**Florida Lawmaker Files Bill to Allow State Investment in Digital Assets Including Bitcoin and NFTs**
Florida Representative Webster Barnaby has introduced House Bill 183 (HB 183), a revised proposal that permits the state to invest up to 10% of certain public funds in digital assets such as Bitcoin, crypto ETFs, NFTs, and other blockchain products. This new bill marks Barnaby’s second effort after his initial Bitcoin-only proposal, HB 487, was withdrawn in June 2024.
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### Expanded Digital Asset Options and Stricter Regulations
Unlike the earlier bill focused solely on Bitcoin, HB 183 broadens the investment scope to include a diversified range of digital assets, including crypto exchange-traded products, tokenized securities, and NFTs. This expansion provides Florida with greater flexibility in building a varied digital asset portfolio.
In addition, the bill introduces more robust custody, documentation, and fiduciary standards to address concerns related to managing and safeguarding digital investments. These enhanced requirements aim to ensure transparent and secure handling of public funds invested in crypto.
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### Investment Authorization and Implementation Timeline
If passed, HB 183 would authorize the Florida State Board of Administration to invest pension and trust funds in digital assets. The bill specifies an effective date of **July 1, 2026**, contingent on legislative approval and the governor’s signature.
Under the proposed law, the Florida Chief Financial Officer (CFO) would have the authority to allocate up to 10% of money from designated public funds—including the General Revenue Fund, Budget Stabilization Fund, various trust funds, and the Florida Retirement System’s System Trust Fund—into digital investments.
Furthermore, assets could be held by the CFO, qualified custodians, or through SEC-registered exchange-traded funds (ETFs). The bill also permits Florida residents to pay specific taxes and fees using digital assets, with payments converted to U.S. dollars before being deposited into the state’s general fund.
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### Context: State-Level Crypto Legislation Trends
Florida’s renewed push follows a national wave of digital asset reserve bills introduced during the 2025 legislative session. While more than 50 similar bills were filed across various states, only three succeeded in becoming law:
– **Arizona** enacted HB 2749, allowing the creation of a digital asset reserve funded by unclaimed property.
– **New Hampshire’s** HB 302 permits the state treasurer to invest up to 5% of public funds in digital assets with market capitalizations above $500 billion.
– **Texas** passed Senate Bill 21, establishing a Bitcoin-only state reserve.
Many other bills stalled or were withdrawn due to legislative deadlines and committee challenges, according to tracking data from Bitcoin Laws.
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### Federal Context Influencing State Efforts
HB 183 references a March 2025 White House executive order that aimed to create a federal Strategic Bitcoin Reserve as national policy. However, in August 2025, Treasury Secretary Scott Bessent clarified that the federal reserve would consist solely of seized Bitcoin holdings, with no plans for new government cryptocurrency purchases.
Despite this clarification, momentum at the state level has not diminished. Analysts suggest the federal initiative validated the concept of government-held digital assets and increased pressure on states like Florida to develop their own approaches.
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### Additional Crypto Legislation: Stablecoin Regulation
Alongside HB 183, Rep. Barnaby filed House Bill 175 (HB 175), proposing to ease regulatory requirements for stablecoin issuers operating in Florida. This bill would exempt recognized payment stablecoin issuers from separate licenses or registration mandates, provided they maintain full collateralization with U.S. dollars or Treasury securities.
HB 175 also requires stablecoin issuers to conduct public audits of their reserves at least once monthly. It shares the same **July 1, 2026** effective date as HB 183.
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### Next Steps for HB 183
Currently, HB 183 awaits committee assignment and hearings in the Florida House of Representatives. For the bill to become law, it must pass both the House and Senate and receive the governor’s signature.
As Florida considers positioning itself at the forefront of government digital asset investment, these legislative efforts are closely watched by policymakers and crypto industry observers alike.
https://coincentral.com/florida-takes-second-shot-at-bitcoin-reserve-after-first-bill-collapsed/
