SB 1038 Florida Senate · 2026 Regular Session

Florida Strategic Cryptocurrency Reserve

Summary

Florida Strategic Cryptocurrency Reserve; Creating the “Florida Strategic Cryptocurrency Reserve Act”; authorizing the Chief Financial Officer to take certain actions in administering and managing the Florida Strategic Cryptocurrency Reserve; authorizing payment of the reasonable cost of administering and managing the reserve from a specified source; authorizing the Chief Financial Officer to purchase cryptocurrency for the reserve only if a specified condition is met; creating the Florida Strategic Cryptocurrency Reserve Advisory Committee for a specified purpose, etc.

Bill status died 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 13, 2026 Last action Mar 13, 2026

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What changed between versions

S 1038 Filed → S 1038 c1 · 6 edits

MODERATE

The bill was updated from a filed draft to a committee substitute version, shifting the statutory citations from the 215.594 series to the new 215.991 series. The most significant substantive change is the redefinition of 'cryptocurrency' to explicitly exclude any currency issued by a central authority, ensuring the reserve only holds decentralized assets. Additionally, the definition of 'blockchain' was expanded to include a database description, and the reference for 'virtual currency' was updated to a different section of the Florida Statutes.

Scope change

The bill's scope remains focused on creating a state cryptocurrency reserve, but the specific legal definitions and statutory sections have been revised to refine the types of assets eligible for the reserve and align with updated state law references.

DEFINITION

The definition of 'cryptocurrency' was changed to explicitly state it is not issued by a central authority, clarifying that the reserve cannot hold government-issued digital currencies.

A new definition for 'blockchain' was added, describing it as a decentralized digital ledger or database that cannot be altered retroactively.

The definition of 'virtual currency' was updated to reference a different section of the Florida Statutes (896.101(2) instead of 896.101(1)).

TECHNICAL

The statutory section numbers for the new laws were changed from the 215.594 series to the 215.991 series, and the bill title was updated to include the new act name.

TIMELINE

The contingent effective date clause was updated to reference a different companion bill number (SB 1040 instead of SB ___).

REQUIREMENT

The requirement for the Chief Financial Officer to exercise judgment and care was slightly rephrased to include 'terms, distribution requirements' in the list of factors to consider.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jan 29, 2026

Upper · Passed

Now in Appropriations Committee on Agriculture, Environment, and General Government

upper

Jan 29, 2026

Upper · Passed

Pending reference review under Rule 4.7(2) - (Committee Substitute)

upper

Jan 23, 2026

Upper · Passed

On Committee agenda-- Banking and Insurance, 01/28/26, 10:30 am, 412 Knott Building

upper

Jan 13, 2026

Introduced

upper

Jan 7, 2026

Committee

Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Appropriations

upper

1 primary · 0 co-sponsors