The Florida Legislature has passed state-level stablecoin regulation bill SB 314, which establishes a regulatory framework for payment stablecoin issuers. The bill is now awaiting Governor Ron DeSantis's signature. Under the new legislation, stablecoin issuers must comply with existing anti-money laundering regulations for money services businesses and obtain the necessary licenses. Additionally, the bill clarifies that certain payment stablecoins are not considered securities. It also stipulates that if federal law prohibits paying interest to stablecoin holders, issuers cannot offer any form of yield to holders.