Florida has added a new chapter, § 658.997, which will take effect immediately and fall under the GENIUS Act framework. Trust companies issuing payment stablecoins in this state must apply for an approval certificate, and financial regulatory agencies will make a decision within 120 days. Federal and foreign qualified issuers are exempt, and compliant stablecoins are not considered securities. Issuers with an issuance size of $10 billion must become federally regulated or cease issuance within 360 days. The minimum prudential requirements include a 1:1 reserve ratio, disclosure of redemption policies, monthly disclosure of reserve composition, and CEO/CFO monthly certification. (Source: Florida Legislature official website)
