A Florida House Republican has filed a revised bill to allow the state to invest in digital assets, such as Bitcoin and crypto ETFs, after Florida’s operations subcommittee withdrew his initial attempt in June.
The Florida House Bill 183 would let the state and certain public entities invest up to 10% of their funds in digital assets like Bitcoin (BTC), crypto exchange-traded products, crypto securities, non-fungible tokens, and other blockchain-based products, according to the new bill introduced by Florida lawmaker Webster Barnaby on Wednesday.
The new crypto reserve bill is similar to Webster’s HB 487, which was killed in June, but adds new custody, documentation and fiduciary standards for holding and lending digital assets.
Another key addition Barnaby made was to expand the investible digital assets from Bitcoin-only to a broader range of crypto assets, giving Florida greater flexibility to diversify its digital asset holdings if the bill passes.
HB 183 seeks to take effect on July 1, 2026, and authorize the State Board of Administration to invest pension and other trust funds in digital assets.
Only three state Bitcoin reserve bills have been enacted
A spree of Bitcoin and digital asset reserve bills were introduced into state legislatures during the 2025 legislative session; however, the vast majority failed, with just three bills from Arizona, New Hampshire and Texas being enacted into law.
New Hampshire’s HB 302 allows the treasurer to invest up to 5% of public funds in digital assets with market caps above $500 billion — currently just Bitcoin — while the Texas Senate Bill 21 specifically establishes a Bitcoin-only reserve.
On the other hand, Arizona’s HB 2749 only permits the creation of a digital asset reserve from unclaimed property.
Florida lawmaker filed another crypto bill this week
Barnaby is also seeking to ease regulatory requirements for stablecoin issuers in Florida, filing HB 175 to clarify that recognized payment stablecoin issuers shouldn’t be required to obtain separate licenses or registrations.
Related: Bank of England clarifies plan to limit stablecoins is temporary
The bill requires stablecoin issuers to be fully collateralized with US dollars or treasurys and to conduct a public audit of those reserves at least once a month.
Like HB 183, Barnaby is aiming for the stablecoin bill to take effect on July 1, 2026.
California acknowledges crypto property rights
Last Saturday, California Governor Gavin Newsom signed a new law protecting unclaimed crypto from being automatically sold, ensuring that digital assets are preserved in their original form instead of being converted to cash before being transferred to state custody.
The California SB 822 allows crypto account holders to recover their original crypto by filing a valid claim with the California State Controller.
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