Florida lawmakers have introduced a bill that would set a 0% state capital gains tax on profits from Bitcoin, XRP, other cryptocurrencies, and traditional stock investments for Florida residents. The proposal, brought forward in May 2025, is framed as making Florida the first U.S. state to explicitly legislate the elimination of state-level capital gains taxes on Bitcoin and certain other digital assets, alongside equities. While Florida already has no state income tax, this measure is designed to clarify and codify that gains from these assets will not be taxed at the state level, removing ambiguity for crypto investors and traders. The bill is part of a broader strategy to position Florida as a crypto‑friendly and investment‑friendly jurisdiction, with supporters arguing it could attract both individual investors and crypto businesses by increasing after‑tax returns within the state. Analysts note that the change would not affect federal capital gains taxes, which continue to apply under IRS rules treating cryptocurrency as property, meaning profits from sales or exchanges remain taxable at the federal level. If enacted, the measure would mainly enhance Florida’s competitive standing in digital asset policy and financial services, potentially influencing other states’ approaches to crypto taxation and regulation.

AI-generated background, compiled from web sources — not editorial content.

More coverage

Explore the topic

Loading related coverage…

Explore the full feed

Comments

Loading comments…