Subcommittee advances bill to create a framework for a Florida cryptocurrency reserve
Representative Snyder's HB 1039 would create a legal framework for a state cryptocurrency reserve administered by the State Board of Administration, with strict eligibility (very large market-cap coins), institutional custody and biannual reporting to the legislature; the committee adopted an amendment moving administration to SBA and reported the bill favorably.
The full story
Representative Snyder told the Insurance & Banking Subcommittee that HB 1039 would establish the legal framework for a possible Florida cryptocurrency reserve without appropriating funds. The stated purpose is diversification of the state's investment options and preparedness for future opportunities in digital assets.
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