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HB 1039FLORIDA · STATEWIDESession 2026Died on Second Reading Calendar
High Impact

Proposed Florida Strategic Cryptocurrency Reserve Fund

Original title: Establishment and Administration of a State Cryptocurrency Reserve

January 6, 2026

cryptocurrencystate financeinvestmentgovernment administrationdigital assetsexecutive branchtaxation and finance

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Where This Stands

Currently Died on Second Reading Calendar. The next step in the legislative lifecycle is Introduced.

Procedural history

20 actions
  1. Feb 27, 2026HouseIntroduced
    CS Filed
  2. Feb 27, 2026House
    Laid on Table under Rule 7.18(a)
  3. Feb 27, 2026House
    Reported out of Commerce Committee
  4. Feb 24, 2026HouseCommittee
    Favorable with CS by Commerce Committee
  5. Feb 20, 2026House
    Added to Commerce Committee agenda
  6. Feb 13, 2026HouseIntroduced
    1st Reading (Committee Substitute 1)
Show 14 earlier actions
  1. Feb 13, 2026House
    Now in Commerce Committee
  2. Feb 13, 2026HouseCommittee
    Referred to Commerce Committee
  3. Feb 12, 2026HouseIntroduced
    CS Filed
  4. Feb 12, 2026House
    Laid on Table under Rule 7.18(a)
  5. Feb 12, 2026House
    Reported out of Insurance & Banking Subcommittee
  6. Feb 11, 2026HouseCommittee
    Favorable with CS by Insurance & Banking Subcommittee
  7. Feb 9, 2026House
    Added to Insurance & Banking Subcommittee agenda
  8. Jan 13, 2026HouseIntroduced
    1st Reading (Original Filed Version)
  9. Jan 12, 2026House
    Now in Insurance & Banking Subcommittee
  10. Jan 12, 2026HouseCommittee
    Referred to Commerce Committee
  11. Jan 12, 2026HouseCommittee
    Referred to State Administration Budget Subcommittee
  12. Jan 12, 2026HouseCommittee
    Referred to Government Operations Subcommittee
  13. Jan 12, 2026HouseCommittee
    Referred to Insurance & Banking Subcommittee
  14. Jan 6, 2026HouseIntroduced
    Filed

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

The bill would have authorized the state to use public funds to purchase and hold volatile digital assets, creating a new state-level investment portfolio intended to hedge against economic inflation.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

State Board of Administration

The board would have been assigned the legal responsibility to manage, secure, and report on the new cryptocurrency reserve.

Florida taxpayers

Public funds could have been appropriated by the Legislature to purchase cryptocurrency for the reserve.

Cryptocurrency liquidity providers

Qualified entities could have entered into contracts with the state to facilitate the purchase and sale of digital assets.

What changed

Last recorded activity January 6, 2026.

What's next

Introduced.

Summary

This bill proposed creating a state-managed cryptocurrency reserve fund to hold digital assets as a long-term financial investment. The State Board of Administration would have been responsible for managing the fund, selecting assets, and contracting with third-party security and liquidity providers.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Why It Matters

The bill would have authorized the state to use public funds to purchase and hold volatile digital assets, creating a new state-level investment portfolio intended to hedge against economic inflation.

Frequently Asked Questions

What was the purpose of the proposed reserve?
The stated objective was to grow the reserve to ensure the long-term financial sovereignty of the state and provide a hedge against inflation.
Who would have managed the cryptocurrency?
The State Board of Administration would have had custody and management authority, with the ability to contract with third-party security and liquidity providers.
Could the state have lost money in this reserve?
Yes; the bill authorized the board to manage investments as a 'prudent investor,' but it did not guarantee the value of the assets, which are subject to market volatility.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Voting Record

Motion succeededhouse2/24/2026Official roll call ↗

Favorable With Committee Substitute (Commerce Committee)

Total

44

Yes

37

No

4

Present

0

Not Voting

3

Abstain

0

Motion succeededhouse2/11/2026Official roll call ↗

Favorable With Committee Substitute (Insurance & Banking Subcommittee)

Total

29

Yes

29

No

0

Present

0

Not Voting

0

Abstain

0

Full roll-call analysis →

Sponsors

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

State-Level Digital Asset Adoption

The bill represents an attempt to integrate decentralized digital assets into traditional state financial management frameworks.

State Board of Administration

Connected Entities

organizationState Administration Budget Subcommittee“Subcommittee reviewing the bill”Map →
organizationGovernment Operations Subcommittee“Subcommittee reviewing the bill”Map →
bill_numberCS“Committee Substitute”Map →
organizationCommerce Committee“Committee reviewing the bill”Map →
otherRule 7.18(a)“Rule used for laying bills on the table”Map →
organizationInsurance & Banking Subcommittee“Subcommittee reviewing the bill”Map →

Sources

Open source document

openstates.org

Analysis Score

0–100
  • Significance85
    How much this matters to a regular citizen
  • Controversy75
    Intensity of disagreement among stakeholders
  • Entertainment40
    Compellingness for a non-policy-wonk reader
  • Buzz30
    Current news / social attention level

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