Webster Barnaby , a Florida House Republican, just filed HB 183 , basically a do-over on his previous crypto reserve bill that got killed back in June. This time he’s learned from the failure and loaded it with better safeguards.
The new bill would let Florida and certain public agencies dump up to 10% of their money into Bitcoin, crypto ETFs, and other digital assets. What’s different from his first attempt is that Barnaby added real custody standards, documentation requirements, and fiduciary protections to keep things legit.
He also expanded what counts as investable assets beyond just Bitcoin. Now the state could throw money at various crypto products, giving them more flexibility if this thing actually passes. The bill is set to take effect July 1, 2026.
Here’s the weird part though: out of all the state crypto reserve bills filed this year, only three actually became law: Arizona, New Hampshire, and Texas. Florida’s first attempt flopped, so there’s no guarantee round two will work either. New Hampshire settled for letting their treasurer invest 5% in high-market-cap crypto, while Texas went Bitcoin-only.
Barnaby’s also pushing another bill called HB 175 that would make it easier for stablecoin issuers to operate in Florida without jumping through regulatory hoops. He wants that one effective July 1, 2026, too.
California just passed something different; they’re protecting unclaimed crypto from being automatically sold off.
Conclusion
Florida’s renewed crypto reserve proposal highlights the state’s increasing interest in digital assets. With stronger safeguards and wider investment options, Barnaby’s updated bill could finally gain approval and position Florida as a leader in crypto innovation.
Also Read: FED Uncovers Massive Bitcoin Scam Operation
