Florida Senator to Draft Bill to Recognize Bitcoin as Currency

Florida state senators are drafting a bill that could see Bitcoin recognized as currency in the U.S. Senator Dorothy Hukill said that while it is still in its early stages, the draft legislation will seek to strike a balance of protection for consumers and startups. Hukill, a Republican representative for Florida's 8th District and chair of the Finance and Taxation Committee, hinted that the bill, a first for Florida, is still being worked out in detail.

Hukill told CoinDesk:

"I think you have to recognize it to a certain extent so that you can legislate to protect your constituents. And then, then, decide how to regulate it."

Although Hukill didn't give a specific date, she believes a bill could be introduced to the Florida Senate by 2017.

Hukill also said that as the bill moves forward, he will seek feedback from industry stakeholders, but if it is to proceed to this step, the content of the bill must be clearer.

The Florida example is a sign that state lawmakers are trying to navigate the landscape of bitcoin and blockchain technology.

Hukill believes the bill is necessary because of the growing public interest in Bitcoin as a form of currency and local businesses are accepting the digital currency.