A major development is underway in Florida that could be significant for the crypto market. A stablecoin regulation bill is awaiting Governor DeSantis’s approval, which will introduce a dedicated regulatory framework for stablecoins at the state level for the first time in the United States.

Senate Bill 314 has been approved, and it will now give Florida’s financial regulatory office the authority to license stablecoin issuers. Any company that wants to issue stablecoins there must obtain a license first. The bill has been drafted in coordination with the federal Genius Act, which has already established national guidelines for dollar-pegged tokens.

According to Senator Colleen Burton, this move is intended to strengthen consumer protection and ensure financial stability. It will work alongside the federal framework established under the Genius Act. If DeSantis signs it—and there are indications that he will—Florida will become the first state in the U.S. to have its own regulatory framework for stablecoins.

DeSantis is already known as a supporter of crypto. He also pushed through a ban on CBDCs, arguing that government digital currencies could increase financial surveillance. So, this bill fully aligns with his policy direction.

Looking at the global picture, stablecoin use is growing rapidly. In 2025, stablecoin transactions reached as much as $33 trillion, which is 72% higher than last year. USDC has become the most widely used—processing $18.3 trillion. USDT is still the largest in the market with $18.7 billion, but its transaction volume has declined.

The trend is also visible in Asia. Japan provided a legal framework for stablecoins in 2023, and Hong Kong is set to begin licensing this year. China is taking a slightly different path—focusing on the digital yuan and maintaining strict control over private stablecoins.

In Congress as well, after the Genius Act, other proposals such as the Clarify Act are emerging, trying to further expand the stablecoin ecosystem. The banking sector is concerned that rewarding stablecoins could pull away traditional deposits, but the Trump administration is taking a positive stance toward crypto. Florida’s move shows that seriousness around crypto regulation at the state level in the U.S. is increasing.