Florida lawmakers propose two bills to create and manage a strategic cryptocurrency reserve

Foresight News reported that Florida State Senator Joe Gruters has submitted bills SB 1038 and SB 1040. SB 1038 proposes the establishment of the Florida Strategic Cryptocurrency Reserve under the Office of the Chief Financial Officer, while SB 1040 proposes the creation of the Florida Cryptocurrency Reserve Trust Fund, outlining its sources of funding and intended uses. Both bills are set to take effect on July 1, 2026, provided that SB 1040 and SB 1038 or similar legislation are enacted, and that such legislation is passed and becomes law during the same legislative session or an extension thereof.