The bill establishes the Florida Strategic Cryptocurrency Reserve Fund, which is assigned to the State Board of Administration. It defines key terms related to cryptocurrency and outlines the fund's objectives, including growing the reserve to ensure the state's long-term financial sovereignty. The fund will consist of money appropriated by the Legislature, revenue dedicated by law, cryptocurrency purchased with reserve funds, and investment earnings. The board is authorized to manage the reserve, including acquiring and disposing of cryptocurrency, and may contract with third parties for administration and management. Additionally, the board is required to provide annual reports to the Legislature detailing the reserve's holdings and management actions.

The bill also creates the Florida Strategic Cryptocurrency Reserve Fund Advisory Committee, which will advise the board on asset valuation, investment policies, and security measures. The committee will consist of five members, including the executive director of the board and experts in cryptocurrency investments and digital asset security. The board is tasked with adopting necessary rules for the fund's administration. The act is set to take effect on January 1, 2027.