THE BILL ITSELF
CS/SB 1040
Trust Funds/Florida Cryptocurrency Reserve
Florida Senate - 2026 CS for SB 1040 By the Committee on Banking and Insurance; and Senator Gruters 597-02292-26 20261040c1
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A bill to be entitled
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An act relating to trust funds; creating s. 215.994,
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F.S.; creating the Florida Cryptocurrency Reserve, a
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trust fund, within the office of the Chief Financial
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Officer; providing for the source of funds and the
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purpose of the reserve; providing for future review
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and termination or re-creation of the reserve;
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providing a contingent effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 215.994, Florida Statutes, is created to
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read:
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215.994 Florida Strategic Cryptocurrency Reserve.—
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(1) The Florida Cryptocurrency Reserve is a trust fund
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created within the office of the Chief Financial Officer.
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(2) The reserve shall consist of all of the following:
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(a) Money transferred or deposited to the credit of the
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reserve by legislative appropriation. The Legislature may
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appropriate funds for deposit to the credit of the reserve for
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the purposes of:
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1. Investing in cryptocurrency; and
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2. Administering and managing all aspects of the reserve.
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Administering the reserve includes, but is not limited to, being
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responsible for and supervising the custody, consultants,
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external managers, and software related to the implementation of
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the reserve.
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(b) Revenue that the Legislature by general law dedicates
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for deposit to the credit of the reserve.
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(c) Cryptocurrency purchased using money in or received by
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the reserve, including any cryptocurrency:
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1. Derived from the fork of a distributed ledger; or
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2. Distributed pursuant to an airdrop to the state’s
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cryptocurrency addresses.
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(d) Investment earnings, interest, or rewards accruing on
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reserve moneys that are not invested in cryptocurrency, which
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earnings, interest, or rewards may be invested as provided in s.
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17.57.
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(3) The purpose of the reserve is to acquire, hold, manage,
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and dispose of cryptocurrency and any assets authorized in this
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section or s. 215.993 for the benefit of the state; to
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strengthen the state’s financial security and resilience; to
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diversify the state’s investment portfolio, including providing
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a potential hedge against inflation and economic volatility; and
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to position the state to participate in and adapt to the
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emerging digital economy.
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(4) In accordance with s. 19(f)(2), Art. III of the State
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Constitution, the reserve is terminated July 1, 2030, unless
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terminated sooner. Before its scheduled termination, the reserve
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shall be reviewed as provided in s. 215.3206(1) and (2).
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Section 2. This act shall take effect on the same date that
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SB 1038 or similar legislation takes effect, if such legislation
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is adopted in the same legislative session or an extension
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thereof and becomes a law.