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The Florida Senate

SB 486: Money Services Businesses

GENERAL BILL by Brodeur

Money Services Businesses; Revising exceptions to general laws and rules for licensees during the Financial Technology Sandbox period; defining the term “virtual currency”; revising the purpose of the Florida Control of Money Laundering in Money Services Business Act; revising criminal and civil penalties for certain violations relating to unlicensed activity involving money services businesses and deferred presentment providers; requiring money transmitters that receive virtual currency for specified purposes to hold a certain type and amount of virtual currency until the transmission obligation is completed, etc.

Effective Date: 1/1/2023
Last Action: 1/12/2022 Senate - Now in Appropriations Subcommittee on Agriculture, Environment, and General Government
Bill Text: Web Page | PDF



Bill History

Date Chamber Action
10/13/2021 Senate • Filed
10/21/2021 Senate • Referred to Banking and Insurance; Appropriations Subcommittee on Agriculture, Environment, and General Government; Appropriations -SJ 28
1/7/2022 Senate • On Committee agenda-- Banking and Insurance, 01/12/22, 9:30 am, 412 Knott Building
1/11/2022 Senate • Introduced -SJ 28
1/12/2022 Senate • Favorable by Banking and Insurance; YEAS 11 NAYS 0 -SJ 114
• Now in Appropriations Subcommittee on Agriculture, Environment, and General Government