The bill establishes the Florida Strategic Cryptocurrency Reserve, creating new sections in the Florida Statutes to define terms and outline the administration and management of the reserve by the Chief Financial Officer (CFO). It includes definitions for key terms such as "cryptocurrency," "airdrop," and "qualified custodian." The CFO is authorized to manage the reserve, which includes acquiring, exchanging, and liquidating cryptocurrency, while exercising prudent investment judgment. The bill also allows the CFO to contract with third-party entities for various services related to the reserve and specifies that the reserve's funds can only be used for authorized investment activities and administrative costs.

Additionally, the bill creates the Florida Strategic Cryptocurrency Reserve Advisory Committee, composed of five members, including the CFO and four appointees with expertise in cryptocurrency investments and digital asset security. The committee is tasked with advising the CFO on asset valuation, investment policies, and security practices. The CFO is required to submit biennial reports to the Legislature detailing the reserve's cryptocurrency holdings and management actions. Upon termination of the reserve, any remaining assets must be liquidated and transferred to the General Revenue Fund. The act is set to take effect on July 1, 2026, contingent upon the passage of related legislation.