Florida Payment Stablecoin Regulatory Framework Takes Effect

The core provisions of Florida's regulatory framework for payment stablecoins became effective on October 1, 2026. Under the state's Chapter 2026-176, issuers of qualified payment stablecoins must be licensed or meet exemption criteria. Issuers are required to maintain at least 1:1 reserves, including cash, Federal Reserve account funds, eligible bank deposits, U.S. Treasury bills with a remaining maturity of no more than 93 days, and qualifying government money market funds. Requirements also include public redemption policies, monthly reserve disclosures, and monthly audits by certified public accountants certified by the CEO and CFO. Issuers reaching $10 billion in total issuance must transition to a federal regulatory framework within 360 days or suspend new issuances unless granted a federal exemption.