A Florida House Republican has introduced a revised bill that would allow the state to invest in digital assets, including Bitcoin and crypto ETFs, following the withdrawal of his initial proposal in June.
House Bill 183, filed by lawmaker Webster Barnaby on Wednesday, would permit the state and certain public entities to allocate up to 10% of their funds to digital assets such as Bitcoin, crypto exchange-traded products, crypto securities, non-fungible tokens (NFTs), and other blockchain-based products.
The new bill closely mirrors Barnaby’s earlier HB 487, which was killed in June, but introduces stricter custody, documentation, and fiduciary standards for holding and lending digital assets.
A notable update in HB 183 is the expansion of eligible investments from Bitcoin-only to a broader range of crypto assets, giving Florida more flexibility to diversify its digital holdings if the bill is passed.
House Bill 183 is slated to take effect on July 1, 2026, authorizing the State Board of Administration to invest pension and other trust funds in digital assets.
Only Three State Bitcoin Reserve Bills Have Passed
During the 2025 legislative session, several states introduced bills to create Bitcoin and digital asset reserves, but most failed. Only three bills—from Arizona, New Hampshire, and Texas—were enacted into law.
- New Hampshire’s HB 302 allows the state treasurer to invest up to 5% of public funds in digital assets with market capitalizations over $500 billion—currently limited to Bitcoin.
- Texas Senate Bill 21 establishes a Bitcoin-only reserve.
- Arizona’s HB 2749 permits a digital asset reserve only from unclaimed property.
Florida Lawmaker Pushes Another Crypto Bill
In addition to HB 183, Barnaby filed HB 175, which aims to ease regulatory requirements for stablecoin issuers in Florida. The bill clarifies that recognized payment stablecoin issuers would not need separate licenses or registrations, provided their reserves are fully collateralized with U.S. dollars or Treasuries and undergo a public audit at least once a month.
Like HB 183, the stablecoin legislation is targeted to take effect on July 1, 2026.
California Recognizes Crypto Property Rights
Last Saturday, Governor Gavin Newsom signed a new law safeguarding unclaimed cryptocurrency from being automatically liquidated, ensuring digital assets remain in their original form rather than being converted to cash before state custody.
Senate Bill 822 (SB 822) allows crypto account holders to reclaim their original holdings by submitting a valid claim with the California State Controller.
