Gov. Ron DeSantis signed legislation Thursday defining the term “virtual currency” to clarify state law on cryptocurrency and ease state financial regulations.
The measure defines “virtual currency” as a “medium of exchange in electronic or digital format which is not currency.” Upon taking effect Jan. 1, 2023, it will upend a 2019 court ruling preventing people who own bitcoin and other cryptocurrencies from selling them without a license.
Miami Republican Rep. Vance Aloupis sponsored the legislation in the House (HB 273), where it passed unanimously. The 2022 Legislative Session marked the second consecutive year Aloupis carried the bill.
Republican Sen. Jason Brodeur of Sanford sponsored...