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Florida Representative Webster Barnaby is making a second attempt to allow public funds to be invested in digital assets.
Barnaby has put forward a revised bill that would let the state and some public organizations put part of their money into cryptocurrencies and related products.
The new proposal, House Bill 183, would allow up to 10% of certain government-managed funds to be invested in digital assets such as Bitcoin
$109,955.55
, crypto-based exchange-traded products (ETFs), blockchain tokens, and non-fungible tokens (NFTs).
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Unlike the first version, HB 487, the updated bill includes added measures to manage risk. It introduces specific rules for how digital assets should be stored, documented, and handled when being lent out.
These new standards are intended to improve accountability and ensure proper oversight of such investments.
One of the key changes in the updated version is the expansion of eligible assets. While the original bill focused only on Bitcoin, this version opens the door to a wider set of digital assets.
If approved, this could give state managers more flexibility when building investment portfolios.
House Bill 183 is scheduled to take effect on July 1, 2026, if it becomes law. It would allow the State Board of Administration to include crypto assets as part of pension and other trust fund investments.
On October 8, the United Kingdom’s Financial Conduct Authority (FCA) removed its ban on cryptocurrency exchange-traded notes (ETNs). What did David Geale, a senior FCA official, say? Read the full story.
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