The bill establishes the Florida Strategic Cryptocurrency Reserve Act, which creates a framework for the management and administration of a state cryptocurrency reserve. It authorizes the Chief Financial Officer (CFO) to take various actions, including purchasing cryptocurrency under specific conditions, contracting with third-party entities for management, and investing in derivative instruments. The CFO is required to exercise prudent judgment in managing the reserve and can use funds for investment activities, temporary cash management, and administrative costs. Additionally, the bill creates the Florida Strategic Cryptocurrency Reserve Advisory Committee to provide guidance on asset valuation, investment policies, and security practices.

The bill also mandates that the CFO submit biennial reports to the Legislature detailing the reserve's cryptocurrency holdings, their estimated value, and actions taken in the previous fiscal year. 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.