Florida's stablecoin licensing law takes effect, and no rule yet says how to apply
From 1 October a payment stablecoin issuer needs a Florida licence or an exemption to do business in the state.
Regulator
Florida Office of Financial Regulation
Florida's state regulator for banks, trust companies, money services businesses and securities, which from 1 October 2026 licenses payment stablecoin issuers under Chapter 2026-176, a state law written to the terms of the federal GENIUS Act.
The profile
The Office of Financial Regulation provides regulatory oversight for Florida's financial services industry. It was created in 2003 as a result of the Cabinet Reorganization Act of 2002 and reports to the Financial Services Commission, made up of the Governor, the Attorney General, the Chief Financial Officer and the Commissioner of Agriculture, which appoints its commissioner. The OFR says the commission "is responsible for final approval of rules developed by the OFR", while regulatory decisions are vested in the office itself. Its divisions cover consumer finance, financial institutions and securities, alongside a bureau of financial investigations and an office of fintech policy. Chapter 2026-176, approved on 26 June 2026, made it the licensing authority for payment stablecoin issuers from 1 October 2026, by money services business licence or, for trust companies, by certificate of approval, with reserve, disclosure and monthly examination requirements taken from the GENIUS Act. The law directs it to seek certification of the state regime from the federal Stablecoin Certification Review Committee, and to supervise jointly with the Office of the Comptroller of the Currency any issuer that passes $10 billion outstanding and moves to federal oversight.
Frameworks and functions
- Qualified payment stablecoin issuer licence
- Licence under part V of chapter 560, Florida Statutes, required from 1 October 2026 to issue payment stablecoins in Florida unless the issuer is federally qualified or approved by another state under the GENIUS Act. Trust companies obtain a certificate of approval instead.
Coverage
Developments in which Florida Office of Financial Regulation is a named party, newest first.
On the record
Florida's payment stablecoin licensing law takes effect under Chapter 2026-176
Issuers need an OFR licence, a trust company certificate of approval or an exemption to do business in Florida, with GENIUS Act reserve, disclosure and monthly examination terms. The application form is to be set by rule, and none was on the register on the day the law took effect.