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Florida lawmakers are advancing a connection that would let the authorities to make a strategical cryptocurrency reserve, narrowing earlier efforts to a model that would efficaciously bounds holdings to bitcoin.
According to Florida’s legislative records, Senate Bill (SB) 1038, sponsored by Republican Senator Joe Gruters, was filed connected Dec. 30 and was referred to the Appropriations Committee connected Agriculture, Environment, and General Government connected Wednesday, wherever it indispensable wide hearings and votes earlier advancing to the Senate floor.
The measure would found a Florida Strategic Cryptocurrency Reserve, managed by the state’s main fiscal serviceman (CFO), which would let the bureau to purchase, hold, manage, and liquidate cryptocurrency nether a modular akin to those governing nationalist spot assets.
While the authorities does not explicitly sanction Bitcoin (BTC), it restricts eligible purchases to crypto that maintained an mean marketplace headdress of astatine slightest $500 cardinal successful the past 2 years, a threshold that lone Bitcoin meets.
US State Reserve Race chart. Source: Bitcoin LawsA Senate-led effort aft broader efforts stalled
The caller Senate connection follows and importantly diverges from Florida’s earlier attempts to authorize state-level crypto investments.
On Oct. 17, 2025, Republican Party Representative Webster Barnaby filed House Bill (HB) 183, which sought to let the authorities and definite nationalist entities to put up to 10% of their funds successful a wide scope of integer assets, including Bitcoin, crypto exchange-traded products (ETPs), crypto securities, non-fungible tokens (NFTs), and different blockchain-based products.
HB 183 was a revised mentation of HB 487, which was withdrawn successful June aft failing to beforehand retired of a House operations subcommittee. While Barnaby’s revised connection added stricter custody, documentation, and fiduciary standards, the wide plus scope and imaginable vulnerability of pension and spot funds faced pushback from lawmakers.
By contrast, SB 1038 removes pension and status funds wholly and places oversight straight nether the CFO done a standalone reserve structure.
Its market-cap eligibility regularisation mirrors approaches adopted successful states similar New Hampshire and Texas, some of which person enacted much narrowly defined Bitcoin reserve frameworks successful 2025.
Related: Bitcoin faces ’boring sideways’ grind successful coming months: CryptoQuant CEO
What’s adjacent successful the legislative process?
SB 1038 is contingent connected a companion authorities establishing the indispensable trust-fund mechanics for the reserve. This means it cannot instrumentality effect unless related bills are besides enacted during the aforesaid legislative session.
A House companion measure, HB 1039, was besides filed, signaling coordinated Senate and House backing.
If the authorities advances, the CFO would beryllium mandated to taxable reports to legislative leaders starting successful December 2026, detailing the reserve’s holdings, value, and absorption actions.
Whether the connection advances volition beryllium connected whether lawmakers presumption the narrower, bitcoin-focused operation arsenic sufficiently chiseled from earlier efforts that failed to summation traction.
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