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Investments of Public Funds in Bitcoin (SB 550)

Score:

0

%

Florida

2025

Latest Action:

Updated:

Chamber:

Senate Bill 550 allows Florida's Chief Financial Officer to invest public funds in Bitcoin, aiming to protect against inflation. The bill limits Bitcoin investments to 10% of total funds and includes rules for securing assets through secure custody solutions and qualified custodians. It also permits Bitcoin-backed loans for additional returns, provided they do not increase financial risk. Taxes and fees paid in Bitcoin must be converted to U.S. dollars for state funds.

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