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US-FL (US-FL) · Module W1b · Derived Confidence: Confirmed

US-FL: Conduct, Safeguarding & Financial Promotions

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Florida enacted the first comprehensive US state-level licensing framework for payment stablecoin issuers (HB 175 / companion SB 314, now Ch. 2026-176), integrated into the existing Chapter 560 money-services-business regime and aligned with the federal GENIUS Act; core provisions take effect October 1, 2026.

Standing sub-brief · as of 5 July 2026191 words · last cycle 2026-08-05

Conduct, Safeguarding & Financial Promotions

Under s.560.1105, F.S., licensees and authorised vendors must retain compliance-relevant books, accounts, documents and files for five years and produce records to the Office of Financial Regulation within three business days of a written request; this recordkeeping baseline is sourced to a 2021 statute snapshot and has not been independently confirmed current for the 2026 session, though no amendment has been identified. Separately, the Florida Attorney General's Consumer Protection Division, which enforces the Florida Deceptive and Unfair Trade Practices Act against deceptive payments and commercial conduct, has secured more than $565 million in total relief since 2019, including over $426 million in direct consumer relief; this cumulative figure carries no as-of date on its source page, so its currency for the current cycle cannot be confirmed and it is treated as background context pending a dated refresh.

Outlook

No material change to Florida's conduct or recordkeeping duties was identified this cycle. The safeguarding architecture for the incoming stablecoin-issuer regime (reserve backing and CPA-verified disclosures) sits in W2 rather than here; watch for whether OFR issues conduct-specific guidance to accompany the 1 October 2026 stablecoin licensing go-live.

Periodic update · new data 2026-09-03

Conduct, Safeguarding & Financial Promotions

Florida enacted Chapter 2026-176 (House Bill 175 / Senate Bill 314) this cycle, establishing an Office of Financial Regulation-supervised licensing framework for payment stablecoin issuers under the state's existing Chapter 560 money-services-business statute, effective October 1, 2026 (wpm-2026-W1b-001). This is the first comprehensive US state-level licensing regime built specifically for payment stablecoin issuers, and it is structured as a nonbank instrument, issued and supervised within the money-services-business track rather than through a bank charter, preserving the bank-PSP versus nonbank-PI/EMI distinction that runs through Florida's broader payments regulatory architecture. The regime requires 1:1 reserve backing for outstanding stablecoin liabilities and provides a substantial-similarity certification pathway tied to the federal GENIUS Act, administered by the Office of Financial Regulation as a second, OFR-issued instrument layered on top of the base licence (wpm-2026-W1b-002). Neither the state-qualified issuer licence nor the substantial-similarity certification carries a stated exemption, meaning the licensing gate applies without a general carve-out for either instrument. Because the framework is grafted onto Chapter 560 rather than built as a freestanding regime, issuers face conduct and safeguarding obligations, including the 1:1 reserve-segregation requirement, from within an already-functioning supervisory apparatus rather than a newly constituted one.

The core date to track is October 1, 2026, when the licensing requirement and the 1:1 reserve standard become operative. Whether other US states reference Florida's Chapter-560-integrated approach as a template for their own stablecoin-issuer frameworks is the structural question for this module going into the next cycle.

Sources and findings (5 unique sources · R-3/R-4)
  1. [W1b-E1] T1 Derived: Confirmed in_forcehttps://www.flsenate.gov/Laws/Statutes/2021/Chapter560/All re-verified

    <cite index="18-17,18-19">Licensees and authorised vendors must maintain all books, accounts, documents and files necessary to determine compliance for 5 years, and must make records available to OFR within 3 business days of a written request</cite>.

  2. [W1b-E2] T1 Derived: Confirmed in_forcehttps://law.justia.com/codes/florida/2005/TitleXXXIII/ch0560.html re-verified

    <cite index="5-13,5-14">The Florida Control of Money Laundering in Money Transmitters Act requires submission of reports and maintenance of records of transactions to deter use of money transmitters to conceal criminal proceeds</cite>, underpinning ongoing conduct/AML-program obligations.

  3. [W1b-E3] T1 Derived: Confirmed in_forcehttps://www.myfloridalegal.com/consumer-protection re-verified

    <cite index="32-4">Since 2019 the Attorney General's Consumer Protection Division, the primary FDUTPA enforcer, has secured more than $565 million in total relief, including over $426 million in direct consumer relief</cite>, applicable to deceptive commercial/payments conduct.

  4. [W1b-E4] T1 Derived: Confirmed in_forcehttps://pinellas.gov/recognize-and-avoid-telemarketing-fraud/ re-verified

    <cite index="92-6">Non-exempt telemarketing companies must be licensed with the Florida Department of Agriculture and Consumer Services and post a security bond of at least $50,000 before soliciting</cite>, a conduct control relevant to payments-adjacent marketing channels.

  5. [W1b-E5] T2 Derived: Confirmed in_forcehttps://www.mofo.com/resources/insights/241111-uptick-in-florida-telephone-solicitation-act-litigation re-verified

    <cite index="94-4,94-5">The FTSA is Florida's 'mini-TCPA', requiring consent for auto-dialed calls/texts and giving a private right of action with damages of $500 per violation or actual damages, whichever is greater</cite>, exposing payments marketers to class-action risk.