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Can I offer a cryptocurrency as a form of payment without violating financial regulations in Florida? What are the requirements?

Based on the documents provided, there are no specific regulations in Florida that prohibit offering cryptocurrency as a form of payment. However, it is important to note that cryptocurrency transactions may be subject to federal and state regulations, including securities laws and anti-money laundering laws.

If you are an issuer of securities under the Florida Intrastate Crowdfunding Exemption, section 517.0611, F.S., you must file the Notice of Crowdfunding Issuer Offering (Form FL-CI) electronically on the Office of Financial Regulation (Office)’s website at through the Regulatory Enforcement and Licensing (REAL) System. The notice-filing shall include all information required by such form and payment of the statutory fees required by section 517.0611(5), F.S. [2.1]

If you are an intermediary for Florida Intrastate Crowdfunding, you must take measures to reduce the risk of fraud with respect to transactions. Such measures include denying or removing an issuer’s access to the intermediary’s platform if the issuer fails to either provide the intermediary, or to potential investors through the intermediary’s platform, the disclosure statement required under section 517.0611(7), F.S. [2.2]

It is important to note that the regulatory landscape for cryptocurrency is constantly evolving and it is recommended to consult with a legal professional for guidance on compliance with applicable regulations.

Therefore, to answer your question, there are no specific regulations in Florida that prohibit offering cryptocurrency as a form of payment. However, cryptocurrency transactions may be subject to federal and state regulations, including securities laws and anti-money laundering laws. If you are an issuer or intermediary for Florida Intrastate Crowdfunding, you must comply with the relevant regulations.

Source(s):
Jurisdiction

Florida