FL H0273

Adds virtual currency as a regulated asset under Florida's money services business laws, requiring licensees to maintain records, hold reserves, and comply with transmission requirements for virtual currency transactions.

Expands the definition of "money transmitter" to explicitly include virtual currency and defines "virtual currency" as a medium of exchange in electronic or digital format excluding in-game currencies and rewards program points.

Modifies criminal penalties for violations involving virtual currency, establishing felony charges based on transaction amounts: third degree for $300-$19,999, second degree for $20,000-$99,999, and first degree for $100,000 or more within a 12-month period.

Requires money transmitters receiving virtual currency to hold matching virtual currency reserves equal to customer obligations and excludes such holdings from permissible investment calculations.

Takes effect January 1, 2023, and makes conforming amendments to Financial Technology Sandbox provisions, recordkeeping requirements, authorized vendor contracts, and money laundering control provisions.