FL H0175

Creates a state licensing framework for "qualified payment stablecoin issuers" effective October 1, 2026, requiring entities to obtain a license from Florida's Office of Financial Regulation to issue payment stablecoins in the state

Requires issuers to maintain 1:1 reserves backing outstanding stablecoins using approved assets including U.S. currency, Treasury bills (93 days or less maturity), demand deposits at insured institutions, and certain repurchase agreements

Mandates monthly reserve reports examined by registered public accounting firms, public disclosure of redemption policies, and annual audited financial statements for issuers with over $50 billion in outstanding stablecoins

Establishes a $10 billion threshold requiring qualified issuers to either transition to joint federal-state oversight with the Office of the Comptroller of the Currency within 360 days or cease issuing new stablecoins

Requires compliance with federal GENIUS Act anti-money laundering provisions, including annual certifications to the Office of Financial Regulation that anti-money laundering programs are implemented, with license revocation authorized for non-compliance