- Florida legislators introduced bills to create a tax holiday for purchases with virtual currency from June 1 to July 31, 2025.
- The proposed tax break would apply to transactions at grocery and convenience stores, fuel stations, food service establishments, bars, and nightclubs, among other establishments.
- If enacted, the tax holiday would be one of the first of its kind in the United States.
Per the nearly identical bills, consumers would not pay state sales tax on purchases paid for with virtual currency between June 1, 2025, and July 31, 2025. The measure specifically targets purchases made at grocery and convenience stores, fuel stations, food service establishments, bars, and nightclubs.
“The tax … may not be collected during the period of June 1, 2025, through 27 July 31, 2025, on the retail sale of tangible personal property or services which is taxable under that chapter if the sale is paid in virtual currency,” reads Brodeur’s bill.
If enacted, the tax holiday would be one of the first of its kind in the United States, marking a shift in the state’s approach to digital currency. Pew Research reports that roughly one in six Americans have personally traded, used, or invested in cryptocurrency.
This sales tax holiday is part of a broader effort by the Florida Legislature to adapt to an evolving digital economy and encourage the use of digital currencies like Bitcoin. By fostering a more crypto-friendly business environment, proponents argue that the state could become a hub for technological innovation and investment.
Last March, Gov. Ron DeSantis proposed integrating cryptocurrency into the state’s financial operations. He advocated for provisions in the 2022-23 budget that would allow businesses to use cryptocurrency for state fees and also suggested pilot programs to incorporate blockchain technology into administrative processes for the Florida Department of Highway Safety and Motor Vehicles, as well as for Medicaid transactions. Despite the efforts, the state legislature did not approve the proposals.
“I actually had some money in the budget the legislature didn’t pick up to try to do some experiment with blockchain technology on some of the state functions,” DeSantis said at the time.