TechFlow news, October 17 — According to The Block, the Florida House of Representatives has introduced Bill HB 183, which would allow the state’s Chief Financial Officer to invest up to 10% of designated public funds—including the General Revenue Fund, Budget Stabilization Fund, and various trust funds—into "digital assets" and exchange-traded products. The bill also authorizes the State Board of Administration to allocate up to 10% of the Florida Retirement System Trust Fund toward digital asset investments.
The bill defines digital assets as including Bitcoin, tokenized securities, and NFTs, and includes strict custody and control requirements. Assets may be held by the Chief Financial Officer, qualified custodians, or through ETFs registered with the SEC.
The legislation positions Bitcoin as a potential store of value and hedge against inflation for state government funds, citing the White House executive order in March 2025 establishing a federal "strategic Bitcoin reserve" as part of its policy backdrop.
