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Florida’s HB 183: State Investment in Digital Assets Explained
A Florida House Republican has introduced a revised bill aimed at permitting the state to invest in digital assets, including Bitcoin and crypto ETFs. This move follows the withdrawal of a previous proposal by Florida’s operations subcommittee in June.
Overview of Florida House Bill 183
The newly filed Florida House Bill 183, introduced by Representative Webster Barnaby, proposes allowing the state and select public entities to allocate up to 10% of their funds toward digital assets. Eligible investments include Bitcoin, crypto exchange-traded products, crypto securities, non-fungible tokens (NFTs), and other blockchain-based instruments.
This bill builds upon Barnaby’s earlier attempt with HB 487, which did not pass in June. HB 183 incorporates additional safeguards, such as enhanced custody protocols, stricter documentation, and fiduciary standards for managing and lending digital assets.
Expanded Scope Beyond Bitcoin
One of the significant updates in HB 183 is the broader range of permitted digital assets. Unlike the initial Bitcoin-only focus, the bill now allows investment in various cryptocurrencies and blockchain-related products, providing the state with more diversification options if the legislation is enacted. The bill is slated to take effect on July 1, 2026, and would authorize the State Board of Administration to invest pension and other trust funds in digital assets.
State-Level Digital Asset Reserve Legislation
In 2025, multiple states introduced bills to create Bitcoin or digital asset reserves. However, only three states—Arizona, New Hampshire, and Texas—have successfully enacted such laws so far.
New Hampshire’s HB 302 permits the state treasurer to invest up to 5% of public funds in digital assets with market capitalizations above $500 billion, effectively limiting it to Bitcoin at present. Texas Senate Bill 21 establishes a Bitcoin-only reserve fund for the state.
Additional Crypto Legislation by Barnaby
Alongside HB 183, Representative Barnaby filed HB 175, which seeks to simplify regulatory requirements for stablecoin issuers in Florida. The bill clarifies that recognized payment stablecoin issuers would not need separate licenses or registrations, provided they maintain full collateralization in U.S. dollars or U.S. Treasury securities and conduct monthly public audits of their reserves.
Similar to HB 183, this stablecoin-related bill is also intended to become effective on July 1, 2026.
California Passes Law to Protect Crypto Property Rights
In related news, California Governor Gavin Newsom recently signed SB 822 into law. This legislation safeguards unclaimed cryptocurrency assets by preventing their automatic liquidation before being transferred to state custody. Instead, it allows crypto account holders to recover their original digital assets through a valid claim filed with the California State Controller.
