Florida's payment stablecoin rules take effect
- —Issuers need a license or exemption under the state's Chapter 176 law
- —Reserves of at least 1:1: cash, Fed accounts, deposits, Treasuries under 93 days
- —Public redemption policy and monthly reserve disclosures are mandatory
- —At $10 billion in issuance, issuers must move to federal oversight within 360 days
Why it matters: Florida is among the first states to set a dedicated stablecoin regime, potentially setting a template for others and raising compliance pressure on issuers.
Source: PANews