The Florida Senate passed a stablecoin regulatory bill, clarifying the regulatory framework for stablecoin payments.

CoinFeed reported on March 7th that, according to The Block, the Florida Senate passed Senate Bill 314 on Thursday with a vote of 37 to 0, paving the way for the state to establish a regulatory framework for the issuance of stablecoins. This bill, along with its companion House Bill 175, will be submitted to Governor Ron DeSantis for his signature within the next 30 days. The bills are based on the federal GENIUS Act, which was signed into law last July, and cover consumer protection and financial stability guidelines.