FL S0314

Creates a regulatory framework for "payment stablecoin issuers" in Florida, requiring state licensure through the Office of Financial Regulation unless federally qualified or licensed in another state

Defines payment stablecoin as a digital asset designed for payment or settlement where the issuer is obligated to redeem it for a fixed monetary value and maintain stable value

Requires qualified payment stablecoin issuers to maintain reserves backing outstanding stablecoins on at least a one-to-one basis using specified assets including U.S. currency, Treasury bills (93 days or less maturity), and insured deposits

Mandates monthly public disclosure of reserve composition, annual third-party audits, and compliance with federal anti-money laundering requirements including certification to the Office of Financial Regulation

Establishes a $10 billion threshold requiring issuers to either transition to joint federal-state oversight with the U.S. Office of the Comptroller of the Currency or cease issuing new stablecoins