"The bill marks a reset rather than a clean break. Florida lawmakers floated broader crypto investment proposals in 2025, but those measures were withdrawn after facing resistance over scope and risk. The new framework narrows the focus and reflects a growing preference among Republican lawmakers for treating bitcoin as a reserve-style asset rather than a speculative trade."
"Under HB 1039, the CFO would have discretion over whether and when to invest. The bill does not mandate a minimum allocation. Earlier versions of Florida legislation proposed allowing up to 10% of certain state-managed funds to be invested in bitcoin. While the new bill revives that concept, it leaves deployment decisions to the CFO and places the reserve outside pension and retirement accounts."
House Bill 1039 proposes creation of a Strategic Cryptocurrency Reserve Fund that would sit outside Florida's main treasury. The bill authorizes the chief financial officer to invest public funds in bitcoin and other digital assets under guardrails including independent audits, reporting, and an advisory committee. The CFO would have discretion over timing and allocation; no minimum allocation is mandated. The proposal revives previous concepts that considered up to 10% allocations to bitcoin but keeps the reserve separate from pension and retirement accounts. Companion Senate bills define trust structure and funding mechanics for acquiring, holding, and managing the reserve.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]