A Florida Republican lawmaker, Webster Barnaby, has reintroduced a bill that would allow the state to invest a portion of its funds in Bitcoin and other digital assets..
The new measure, House Bill 183 (HB 183), seeks to authorise the state and certain public entities to invest up to 10% of their funds in digital assets such as Bitcoin, crypto exchange-traded products, crypto securities, non-fungible tokens (NFTs), and other blockchain-based instruments.
The bill adds new requirements on custody, documentation, and fiduciary responsibilities to ensure proper handling of digital assets. It also broadens the investment options beyond Bitcoin, giving Florida more flexibility to diversify its portfolio if the bill becomes law.
HB 183 is scheduled to take effect on July 1, 2026, and would empower the State Board of Administration to invest pension and trust funds in digital assets under defined regulatory standards.
So far, only three U.S. states, Arizona, New Hampshire, and Texas, have passed similar laws creating digital asset reserves. New Hampshire’s HB 302 allows the treasurer to invest up to 5% of public funds in assets with a market cap above $500 billion, which currently limits investments to Bitcoin. Texas’ Senate Bill 21 establishes a Bitcoin-only reserve, while Arizona’s HB 2749 permits a digital asset reserve funded through unclaimed property.
In addition to HB 183, Barnaby has filed another bill, HB 175, aimed at clarifying rules for stablecoin issuers in Florida. The proposal states that recognised payment stablecoin issuers would not need separate state licenses or registrations, provided they maintain full collateralization with U.S. dollars or Treasury securities. Issuers would also be required to publish monthly public audits of their reserves.
Like HB 183, the stablecoin bill is also planned to take effect on July 1, 2026. Together, both bills signal Florida’s growing interest in integrating digital assets into its investment and regulatory frameworks, potentially positioning the state as one of the few in the U.S. to officially manage cryptocurrency-based reserves.
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