Florida House Representative Webster Barnaby has introduced a revised digital asset reserve bill, HB 183, following the failure of his previous proposal in June.
This new bill would permit the state and certain public entities to invest up to 10% of their funds in digital assets, including bitcoin, exchange-traded products, securities, non-fungible tokens, and other blockchain-based assets.
Key changes to the Florida bill
Unlike the earlier attempt, HB 183 broadens the scope from a bitcoin-only reserve to a wider range of digital assets and incorporates stricter custody, documentation, and fiduciary requirements.
The bill, if enacted, would take effect July 1, 2026, authorizing the State Board of Administration to allocate pension and trust funds into digital assets.
For context, other states such as Texas and New Hampshire have also enacted bitcoin reserve laws, with New Hampshire allowing up to 5% of public funds to be invested in digital assets with substantial market capitalization—currently only bitcoin.
Mixed results for state bitcoin reserve bills
Despite a wave of legislative proposals in 2025, only three states—Arizona, New Hampshire, and Texas—have successfully passed bitcoin or digital asset reserve bills.
Texas established a bitcoin-only reserve, while Arizona’s law is limited to unclaimed property.
Most other state efforts did not progress past committee.
Additional stablecoin legislation in Florida
Barnaby also filed HB 175 to clarify that recognized payment stablecoin issuers in Florida would not need separate licenses or registrations.
The bill mandates that stablecoin issuers maintain full collateralization in US dollars or treasurys and undergo monthly public audits of reserves.
Like HB 183, this bill aims for a July 1, 2026 effective date.
California addresses unclaimed digital asset property
In related legal developments, California Governor Gavin Newsom recently signed SB 822, which prevents unclaimed digital assets from being automatically liquidated.
Instead, digital assets must be preserved in their original form until claimed by their rightful owner, allowing for recovery through the California State Controller.
