Short answer
Florida's payment stablecoin law, H0175, requires a license for most issuers but provides specific exemptions. The exact list of exempt entities is detailed in the enrolled bill text.
What the bill or law says
The law states that a person cannot act as a "qualified payment stablecoin issuer" without a license or an applicable exemption. The official legislative record for H0175 confirms this requirement. The specific exemptions are part of the complete statutory language found in the enrolled bill text. The law assigns supervision to the Florida Office of Financial Regulation.
How it works in practice
In practice, a company looking to issue a payment stablecoin in Florida must first determine if it falls under an exemption. If it does not, it must apply for a license from the state. The law also requires out-of-state issuers who are qualified in another state to provide written notice to the Florida Office of Financial Regulation. The practical steps for compliance depend on the specific details in the full law and future guidance from regulators.
What the source does not answer
The provided sources do not list the specific categories of issuers that are exempt. The main article identifies this as a key question the enrolled text answers, but it does not provide the answer itself. The sources also do not explain the application process for a license, the cost of compliance, or how regulators will enforce the rules. Businesses must consult the full law and the Office of Financial Regulation for these details.