Use of Digital Currency by the Department of Financial Services

What this bill does

Establishes Florida Stablecoin Pilot Program within DFS; authorizes DFS to engage in certain activities, designate one or more payment stablecoins for certain activities, accept payment stablecoins, & conduct examinations, audits, & investigations of permitted payment stablecoin issuers; requires that certain payment stablecoins meet specified criteria; authorizes program participants to elect to voluntarily participate in program & remit payment stablecoins to compatible digital wallet address; requires certain participants to provide DFS with compatible digital wallet address; requires DFS to comply with certain requirements, provide compatible digital wallet address for specified purpose, coordinate with OFR under certain circumstances, monitor & evaluate pilot program & collect certain data, & submit annual report containing certain information to Governor & Legislature beginning on specified date & annually thereafter; authorizes DFS to adopt rules.