Establishment and Administration of a State Cryptocurrency Reserve

From the Legislature

Establishes Florida Strategic Cryptocurrency Reserve Fund as special fund assigned to SBA; provides for objective, custody, administration, & management of reserve; provides sources of reserve; authorizes Legislature to appropriate funds for deposit to credit of reserve for specified purposes; authorizes board to pay certain costs using cryptocurrency in reserve or net proceed from sale of cryptocurrency in reserve; authorizes transfer of reserve money to State Treasury; authorizes board to dispose of certain cryptocurrency received by reserve; provides requirements for cryptocurrency to be purchased for reserve; authorizes contracts with third parties for administration or management of reserve; authorizes board to use derivatives; authorizes contracts with certified public accountants for independent audits; establishes Florida Strategic Cryptocurrency Reserve Fund Advisory Committee within board; provides for committee membership; provides duties & terms of committee members; requires board to adopt rules; requires board to provide to Legislature certain information relating to reserve.