Florida legislature passes stablecoin regulation bill

The Florida state legislature has passed a regulatory framework for stablecoins, which The Block reports is the first of its kind at the state level in the U.S. The bill passed the Senate in a 37-0 vote. It amends Florida's anti-money laundering law to include stablecoins, requiring issuers to comply with existing regulations and prohibiting unlicensed issuance. The legislation also specifies that certain payment stablecoins are not securities. The bill is now awaiting the governor's final signature.