Florida’s House Bill 183 would allow the state to hold Bitcoin as a treasury reserve by permitting the Chief Financial Officer to invest up to 10% of certain state-held accounts, with custody options including direct holding, qualified custodians, or SEC‑registered ETFs; the policy would take effect July 1, 2026.
Published: 2025-03-15 • Updated: 2025-03-15 • By COINOTAG
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HB 183 authorizes up to 10% of eligible state funds to be invested in Bitcoin and other digital assets.
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Custody options include direct state holding, qualified custodians, or investment via SEC‑registered ETFs to limit operational risk.
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Payments in crypto would be converted to U.S. dollars before deposit; similar measures have advanced in Arizona, New Hampshire, and Texas.
Florida Bitcoin treasury reserve: HB 183 lets the state invest up to 10% of eligible funds in Bitcoin; learn what it means for public finance and next steps.
How would Florida hold Bitcoin as a treasury reserve?
Florida hold Bitcoin as a treasury reserve under HB 183 would permit the Chief Financial Officer to allocate up to 10% of specified state-held accounts into Bitcoin and other defined digital assets. The bill sets custody and management rules — direct state custody, accounts with qualified custodians, or investments through SEC‑registered ETFs — and would take effect July 1, 2026.
What exactly does HB 183 permit and how are digital assets defined and managed?
House Bill 183 clarifies “digital asset” to include Bitcoin, tokenized securities and potentially non‑fungible tokens while imposing controls on acquisition and custody. Eligible allocations are capped at 10% per covered fund, including the Trust Fund of the Florida Retirement System as administered by the State Board of Administration. Funds may be held directly by the CFO, placed in accounts managed by a qualified custodian, or invested through SEC‑registered exchange‑traded funds to reduce custody and regulatory risk.
Frequently Asked Questions
Can Florida’s pension funds be invested in Bitcoin under HB 183?
Yes. The bill applies similar guidelines to the Trust Fund of the Florida Retirement System, allowing up to 10% investment in eligible digital assets in accordance with the bill’s criteria and custody requirements, subject to fiduciary duties and oversight by the State Board of Administration.
How soon could Floridians pay taxes with crypto if the bill passes?
If enacted, HB 183 permits some taxes and fees to be paid in digital assets; those payments would be automatically converted into U.S. dollars before deposit into the state’s general fund, preserving dollar‑based accounting while enabling crypto payments.
Context and analysis
Florida’s proposal arrives amid growing state-level experimentation with Bitcoin as a treasury instrument. Early 2025 legislation in Arizona, New Hampshire, and Texas established precedents for state portfolios to include Bitcoin. Proponents frame the move as modernization — a potential hedge against inflation and a way to diversify reserves similar to historical use of gold. Critics highlight Bitcoin’s volatility — price swings exceeding 10% in a week — and regulatory concerns about market manipulation and custody risk. The bill’s custody pathways and ETF option are specifically designed to address some operational and regulatory objections.
Legislative status and next steps
HB 183 is awaiting assignment to a committee in the Florida House and will face hearings and debate before any potential Senate consideration. If both chambers pass the bill, it would proceed to the governor for signature. The proposed effective date in the bill is July 1, 2026, allowing time for implementation planning and administrative rulemaking.
Key Takeaways
- Legal change proposed: HB 183 would permit the state CFO to invest up to 10% of eligible state-held funds in Bitcoin and other defined digital assets.
- Risk mitigation: Custody options (direct holding, qualified custodians, SEC‑registered ETFs) aim to limit operational and custody risks.
- Policy implications: If enacted, Florida could influence other states and shape a de facto patchwork of subnational approaches to digital‑asset public finance.
Conclusion
Florida’s HB 183 would mark a significant step toward integrating digital assets into public finance by allowing the state to hold Bitcoin as a treasury reserve with strict limits and custody rules. The proposal balances innovation and risk management and, if passed, will be a key test case for whether U.S. states can responsibly manage Bitcoin within public portfolios. Watch the Florida legislative calendar for committee assignments and hearings as policymakers evaluate implementation details.
