Gov. Ron DeSantis signed three bills Friday that directly affect Florida’s financial services sector and the treatment of money.

CS/CS/HB 175 brings stablecoins under state regulation, in line with the federal Guiding and Establishing National Innovation for U.S. Stablecoins Act, better known as the GENIUS Act. The bill takes effect Oct. 1.

The Office of Financial Regulation (OFR) will determine whether an entity qualifies as a “qualified payment stablecoin issuer,” either by issuing a money services business license or, in the case of trust companies, granting a certificate of approval.

Under the law, stablecoins can be used for financial settlement, with their value pegged at a fixed one-to-one rate of exchange with the U.S….