What is Florida's New Cryptocurrency Law?

Florida’s Governor Ron DeSantis signed new cryptocurrency legislation on May 12, 2022. The new law provides a legal definition of what virtual currency is, amends Florida’s financial regulations related to money service businesses (MSBs), while ultimately reducing restrictions on Florida’s crypto industry.

When will Florida's new cryptocurrency Bill become effective?

The new Florida cryptocurrency bill will become effective on January 1, 2023. The new crypto bill signed by Governor DeSantis introduces a definition for the term “virtual currency”. The definition states that virtual currency is “a medium of exchange in electronic or digital format that is not currency”.

How to start a crypto business in Florida?

Looking to start a new crypto business in Florida, contact us, your trusted Miami Florida USA crypto lawyers or schedule an appointment. New Florida Crypto Regulation: Florida’s Governor Ron DeSantis signed the new cryptocurrency regulation on May 12, 2022.