Summary
- The Florida Legislature said it passed the first U.S. state-level regulatory framework bill for stablecoins.
- The bill said it will amend Florida’s Anti-Money Laundering Act to regulate stablecoins and issuers, and will ban unlicensed stablecoin issuance.
- The bill made clear that certain payment stablecoins are not considered securities, and said it will be formally implemented after the governor signs it.
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The Florida Legislature in the United States has passed a bill establishing a regulatory framework for stablecoins.
According to The Block, a cryptocurrency-focused media outlet, the bill passed the Senate vote with 37 in favor and 0 against on the 6th (local time). It is known as the first stablecoin regulation bill introduced at the state level in the U.S.
The bill amends Florida’s Anti-Money Laundering Act to include stablecoins within the scope of regulation and requires issuers to comply with existing rules. It also includes provisions banning the issuance of stablecoins without a license.
In particular, the bill clearly stipulates that certain payment stablecoins are not considered securities.
The bill is currently awaiting the governor’s final signature, and will officially take effect once the signing process is completed.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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