Florida bill would create sales tax holiday if you pay with virtual currency

TALLAHASSEE, Fla. – A Florida bill filed last week by state Sen. Jason Brodeur would introduce a sales tax holiday for customers paying with virtual currency.

The bill (SB 352) would create a sales tax holiday between June 1, 2025, and July 31, 2025, for customers who use virtual currencies like Bitcoin, Ethereum and USD Coin.

The holiday would apply to customers purchasing from the following venues:

• Fuel stations

• Restaurants and other food service establishments

• Grocery stores

• Convenience stores

• Salons

• Bars and nightclubs

A similar bill — HB 369 — was also filed in the Florida House on Nov. 7 by state Rep. Webster Barnaby.

Many proponents of virtual currency highlight its value as a decentralized currency, meaning that its value is not directly tied to federal spending or the U.S. money supply. This insulates virtual currencies from being impacted too harshly by economic trends like core inflation.

However, opponents claim that a lack of centralized control means that there is little accountability for groups that push virtual currencies for illicit purposes like scams or money laundering.

Brodeur has been a large supporter of virtual currencies in the past. He openly sponsored HB 273, which sought to distinguish between virtual currency and actual currency — a distinction that could make it easier to trade in virtual currencies. That bill passed and went into effect earlier this year.

According to the Pew Research Center, around 16% of adults in the U.S. have invested or traded in some form of virtual currency.

SB 352 has been filed as part of the 2024 state legislative session. If passed, the bill would go into effect upon becoming law.

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