Joe Gruters pitches cryptocurrency reserve as long-term state investment strategy
Sarasota Republican Sen. Joe Gruters has filed legislation that would authorize the state to create and manage a cryptocurrency reserve, positioning Florida to invest directly in digital assets as part of its long-term financial strategy.
The proposal is split across two bills (SB 1038, SB 1040). Together, the bills would establish the Florida Strategic Cryptocurrency Reserve within the Office of the Chief Financial Officer and create a dedicated trust fund to hold and manage those assets.
SB 1040 would create the Florida Cryptocurrency Reserve trust fund and outlines its funding sources and purpose. The reserve would receive money through legislative appropriations, revenues dedicated by law and cryptocurrency acquired through…
