Florida's Payment Stablecoin Regulations Take Effect on October 1, 2026

ChainCatcher report: The core provisions of Florida’s regulatory framework for payment stablecoins take effect on October 1, 2026. Under Florida’s Chapter 176 of 2026, any entity conducting business as a qualified payment stablecoin issuer within the state must either obtain a license or qualify for an exemption. Qualified issuers must maintain reserves with a minimum 1:1 backing, consisting of cash, funds in Federal Reserve accounts, eligible bank deposits, U.S. Treasury securities with remaining maturities of no more than 93 days, and eligible government money market funds. Issuers are required to publicly disclose their redemption policies, provide monthly disclosures of reserve composition, undergo monthly audits by certified public accountants, and obtain certifications from the CEO and CFO. If the total outstanding issuance of payment stablecoins by a state-registered issuer reaches $10 billion, the issuer must transition to the corresponding federal regulatory framework within 360 days—unless granted a federal exemption—or suspend new issuances until its outstanding volume falls below the threshold.