Florida Bullion Law

Floridians can now use gold and silver coins as payment according to a new law signed by Florida Governor Ron DeSantis. HB999 authorizes money services businesses in the state to transmit and accept payment in gold and silver. Additionally, qualifying legal-tender gold and silver coins are exempt from the state’s sales tax and can be used to pay government agencies using electronic transfers or debit cards. 

But as specie use grows in Florida, the U.S. Securities and Exchange Commission (SEC) has issued a warning about cryptocurrency. SEC Commissioner Hester Peirce stated that the agency does not consider most meme coins to be securities or under federal law, similar to non-fungible tokens (NFTs). Meanwhile, New York state is creating regulations for virtual currencies by granting licenses and charters to ensure that New Yorkers can securely access cryptocurrency.

A version of this article appears in the August 2025 issue of The Numismatist (money.org).