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Florida Proposes Bill to Explicitly Exempt Bitcoin, XRP, and Stocks from State Capital Gains Tax

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Florida Introduces Bill Clarifying Zero Capital Gains Tax on Bitcoin and XRP

Florida lawmakers have proposed a new bill that explicitly exempts capital gains taxes on cryptocurrency assets, including Bitcoin and XRP, as well as certain stocks. Although Florida does not currently impose a state income or capital gains tax, the bill aims to provide clear legal parameters for investors and businesses operating within the state. The legislation, introduced in May 2025, underscores Florida’s effort to position itself as a competitive hub for crypto investment amid a growing nationwide push for crypto-friendly policies.

Governor Ron DeSantis, a noted supporter of Bitcoin, backs the proposal. The bill seeks to eliminate ambiguity around tax treatment of digital assets at the state level. While federal capital gains taxes will still apply, the law is expected to offer investors increased certainty and attract crypto-related enterprises to Florida’s jurisdiction.

Strategic Move Amid National and Global Crypto Tax Developments

The Florida bill comes as part of a broader movement across the U.S., where several states are adopting pro-crypto policies. Michigan and Texas have already established state-level Bitcoin reserves. Meanwhile, states compete to attract crypto companies by offering favorable tax environments. Florida’s legislation aligns with this trend by codifying the state’s tax stance on digital assets.

Internationally, countries like the United Arab Emirates maintain zero capital gains taxes on cryptocurrencies, setting a competitive benchmark for crypto business-friendly environments. Florida’s bill responds to similar competitive pressures, aiming to bolster institutional and retail investment in cryptocurrencies.

Although Florida’s existing tax code already exempts capital gains at the state level, the bill clarifies these provisions specifically for Bitcoin and XRP. The move is largely symbolic but strategically significant. It offers reassurance to investors seeking stable regulatory conditions amid ongoing debates over crypto taxation across various U.S. jurisdictions.

The post Florida Proposes Bill to Explicitly Exempt Bitcoin, XRP, and Stocks from State Capital Gains Tax appeared first on Coinfomania.

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