Florida Senator Proposes Bill for Public Fund Bitcoin Investments
- Florida Senator Joe Gruters introduced SB 550, allowing up to 10% of public funds to be invested in Bitcoin.
- The bill includes the General Revenue Fund, Budget Stabilization Fund, and several trust funds.
- The state’s Chief Financial Officer is granted authority to manage these investments.
- Strict investment limits are set, capping Bitcoin holdings at 10% per fund.
- Provisions include secure holding policies and guidelines for tax collection related to Bitcoin.
The proposed SB 550 by Florida Senator Joe Gruters allows the state’s CFO to invest up to 10% of public funds in Bitcoin, aiming for financial stability while ensuring regulatory compliance through specific guidelines.
Source (2.6)https://coingape.com/florida-senator-proposes-bill-to-allow-public-fund-investments-in-bitcoin/?rand=24432
