According to CoinMeta, Florida has added a new section §658.997, which takes effect immediately, implementing the framework of the Genius legislation. Trust companies issuing payment stablecoins in this state must apply for approval certificates, and financial regulatory authorities must make a decision within 120 days. Federal qualified issuers and qualified issuers from other states may be exempted, and compliant stablecoins are not considered securities. Issuers with a issuance scale of up to $10 billion must either transition to federal regulation or cease issuance within 360 days. The minimum prudential requirements include a 1:1 reserve ratio, disclosure of redemption policies, monthly publication of reserve composition, and CEO / CFO monthly certifications.