Florida lawmaker reboots crypto reserve bill after the first one flopped

Florida House Representative Webster Barnaby filed a new crypto reserve bill after the first one failed, but this time it isn’t a Bitcoin-only bill, and stricter compliance measures have been added.

A Florida House Republican has filed a revised bill to allow the state to invest in digital assets, such as Bitcoin and crypto ETFs, after Florida’s operations subcommittee withdrew his initial attempt in June.

The Florida House Bill 183 would let the state and certain public entities invest up to 10% of their funds in digital assets like Bitcoin (BTC), crypto exchange-traded products, crypto securities, non-fungible tokens, and other blockchain-based products, according to the new bill introduced by Florida lawmaker Webster Barnaby on Wednesday.

The new crypto reserve bill is similar to Webster’s HB 487, which was killed in June, but adds new custody, documentation and fiduciary standards for holding and lending digital assets.

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